16th May 2006 09:54
Fenner PLC16 May 2006 Fenner PLC Adoption of South African broad based Black Empowerment principles Fenner PLC has today announced conditional agreement to dispose of a 25%minority interest in its South African conveyor belting business at cost toPeotona Group Holdings (Pty) Limited, a black controlled enterprise. This jointventure is undertaken for the purposes of South Africa's broad based BlackEmpowerment programme. Commenting on the transaction, Mark Abrahams said "I am delighted to have ahighly respected partner in South Africa who will help the business to grow inthe new black empowered environment". The business will continue to be consolidated in the group accounts and theeffect of this change is not expected to have a material effect on GroupEarnings. Debra BradburyGroup Company Secretary 16th May 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Fenner PLC