11th Oct 2006 07:00
Genus PLC11 October 2006 For Immediate Release 11 October 2006 Genus PLC Disposal of SyAqua Thailand In line with the strategy to divest the SyAqua shrimp business, Genus plc, the world's leading animal genetics company, is pleased to announce the disposal of SyAqua Thailand, the second SyAqya shrimp business to be sold, to an MBO-led team, for a consideration of $1.9m (£1.0m) in cash, which approximates to net asset value. For the twelve months ended 30 June 2006, SyAqua Thailand generated turnover of £0.9m and an operating loss of £0.9m. Commenting on the disposal Richard Wood, Chief Executive, said 'We are continuing to implement our strategy for disposal. With Brazil and Thailand now sold, we are considering offers for the Mexican business.' For further information Genus plcRichard Wood, Chief Executive Tel: 01256 345971David Timmins, Group Finance Director Tel: 01256 345977 Buchanan CommunicationsCharles Ryland / Suzanne Brocks Tel: 020 7466 5000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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