New Loan Facility / Completio

RNS Number : 5724M

Yule Catto & Co PLC

30 January 2009

 



30 January 2009

Yule Catto & Co plc

New loan facility

Completion of disposal

Yule Catto & Co plc, an international producer of specialty chemicals used in a wide range of industries including pharmaceuticals, FMCG, paints and adhesives, is pleased to announce that it has today concluded a six year amortising loan of 100 million Malaysian ringitt (£19 million) via Synthomer Sdn Bhd, one of its wholly owned subsidiaries.

David Blackwood, Group Finance Director of Yule Catto, commented:

'We announced in December that we had successfully replaced our previous main term bank lines with a new three year £30 million revolving credit facility.  With this additional £19 million in place our re-financing is now complete.'

Yule Catto also announces that it has today completed the disposal of the business and assets of Oxford Chemicals Limited to Frutarom (UK) Limited for a consideration of £8.25 million.  The disposal, announced on 5 January 2009, had been conditional on regulatory approval for the transfer of operational licences and compliance with employee information and consultation requirements, and these conditions have now been satisfied.

- Ends -

For further information, please contact:

Yule Catto & Co plc  Adrian Whitfield, Chief Executive  David Blackwood, Group Finance Director	01279 442791
Hogarth Partnership   John Olsen Andrew Jaques Ian Payne	020 7357 9477

 

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