Disposal

RNS Number : 8980V

M. P. Evans Group PLC

09 November 2010

 



9 November 2010

M.P. Evans Group PLC ("the Group")

Sale of stake in Kennedy, Burkill & Company Berhad for US$3.20 million

The board is pleased to announce that the sale of the Group's 20% holding in Kennedy, Burkill & Company Berhad, a Malaysian company involved in the plantation business and property development, has been completed today.  The total consideration, which has been settled in full, in cash, amounted to RM10 million (approximately US$3.20 million at the current rate of exchange). This disposal is a further step in the Group's strategy of disposing of its Malaysian plantation and other assets prior to reinvesting in Indonesian palm-oil and Australian cattle ventures.

-Ends-

Enquiries:

M.P. Evans Group PLC	Telephone: [phone]
Philip Fletcher, Group Managing Director
Tristan Price, Group Finance Director
Panmure Gordon	Telephone:  [phone]
Edward Farmer
Rakesh Sharma
Hudson Sandler	Telephone: [phone]
Charlie Jack Katie Matthews

 

END

 

 

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