Disposal

Norish PLC 14 April 2005 Norish plc ('Norish' or the 'Company') 14 April 2005 Sale of Belvedere Norish is pleased to announce the disposal of its Belvedere facility to Mrs Panna Mashru for a total consideration, net of costs, of £2.8m payable in cash. Belvedere is involved in storage handling and other related services for commodities cocoa and coffee. Norish's exit from Belvedere follows the loss of the cocoa bean cleaning operation which hit the facility badly in the latter part of 2004 as well as the loss of it's major coffee customer's business in early 2005. Belvedere contributed profits of £0.4m before central costs for the full year to 31 December 2004. The net book value attributable to the property and plant is £1.9m. The proceeds from the disposal of Belvedere will eliminate the Company's borrowings. Commenting on the disposal, Ted O'Neill, Executive Chairman, said: 'The sale of Belvedere reflects the implementation of the Company's strategy to exit from its commodity activities in raw material storage of coffee and cocoa. The sale of the business will enable Norish to focus its efforts on its other facilities which continue to perform in line with expectations.' Enquiries: Norish Ted O'Neill, Executive Chairman Telephone: + 44 208 320 5680 NCB Liam Booth, Managing Director Telephone: + 353 1 611 5611 About Norish: Norish plc is a leading food services company dedicated to serving the manufacturing, distribution and retailing sectors. The group operates strategically located temperature controlled distribution centres, each of which provides storage, freezing, picking, order assembly and distribution services to food companies engaged in processing, wholesaling and retailing. In addition to the temperature controlled facility the group provides a comprehensive range of ambient warehousing services including importation, storage and other added value services. This information is provided by RNS The company news service from the London Stock Exchange
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