31st Oct 2005 09:45
Yule Catto & Co PLC31 October 2005 Yule Catto & Co plc Proposed sale of Autoclenz Ltd. The Board of Yule Catto & Co. plc ("Yule Catto" or "the Group") announces thatthe Group is reviewing the potential disposal of Autoclenz Ltd., its carvaleting and vehicle preparation subsidiary, by way of admission to the AIMmarket of the London Stock Exchange towards the end of November. If theflotation is successful, anticipated gross proceeds of £18 million would be usedto reduce Group borrowings. In the twelve months to 31 December 2004 Autoclenz Ltd. had an operating profitof £1.87 million and gross assets of £5.5 million. This sale is in line with Yule Catto's corporate strategy, as referred to in itsinterim results on 8 September, of reshaping its performance chemicalsactivities. 31 October 2005 ENQUIRIES: YULE CATTO Tel: 01279 442791Alex Walker, Chief ExecutiveSean Cummins, Finance Director COLLEGE HILL Tel: 020 7457 2020Gareth David This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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