Investment Portfolio Update

RNS Number : 5926U

Guinness Peat Group PLC

01 January 2013

 



GUINNESS PEAT GROUP PLC

("GPG" or the "Company")

Investment Portfolio Update

GPG announces that it has sold its 100% owned subsidiary, Gosford Quarry Holdings Pty Limited, to All Australian Sandstone Pty Limited and has received cash proceeds of A$13.7 million (£8.8m) (subject to settlement adjustments) as a result of this divestment.  GPG has retained Gosford Quarry's Sydney property, which is surplus to the business and has redevelopment potential, for disposal at a future date.

GPG also announces that it has now completely divested its shareholdings in Metals X Limited, GME  Resources Limited, Nationwide Accident Repair Services plc, Sysmedia Group plc and Touch Holdings Limited.  Since 30 September 2012, GPG has received total cash proceeds of £9.9m in relation to these divestments.  In addition to this sum, loan repayments and potential contingent consideration are due to be received during the course of 2014 in respect of the Touch sale.

Total cash proceeds of £18.7m have been received in relation to all of the above transactions.

GPG will continue to keep shareholders informed of further developments in relation to its investment portfolio.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

2 January 2013

Enquiry details are:

New Zealand and Australian media:         Geoff Senescall on:                                             [phone]

UK media:                                                             Kevin Smith on:                                                [phone]

 

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