3rd Apr 2006 10:12
3 April, 2006 Daily Mail and General Trust plc (`DMGT') Disposal of Aberdeen Journals by Northcliffe Newspapers DMGT announces that Northcliffe Newspapers, its regional newspaper division,has completed the disposal of Aberdeen Journals Limited to DC Thomson & CompanyLimited. The disposal reduces DMGT's net debt by ‚£132 million. DMGT will bookan exceptional profit on disposal in its half year accounts for the six monthsto 2 April, 2006.Pensions' legislation requires Aberdeen Journals to pay approximately ‚£27million into DMGT's retained pension schemes when Aberdeen Journals' employeesare subsequently transferred into a new scheme. This payment, which will berefunded to DC Thomson by Northcliffe Newspapers, is not expected to occuruntil after DMGT's 1 October, 2006 year end.This announcement follows that made on 27 March, 2006.Enquiries to:Nicholas Jennings, Company Secretary, DMGT, 020 7938 6625Michael Pelosi, Managing Director, Northcliffe Newspapers, 020 7400 1100Andrew Honnor, Tulchan Communications, 020 7353 4200 Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594ENDDAILY MAIL & GENERAL TRUST PLCRelated Shares:
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