Business
EACP
EACP.
About this update from Camellia Plc
[{"type":"text","content":"\n Camellia PLC\n31 March 2005\n\n\n Camellia Plc\n\n East African Coffee Plantations Limited ('EACP')\n\nThe following is the text of an announcement made today by Linton Park Plc, a\nsubsidiary of Camellia Plc.\n\nOn the 3rd February 2005 Linton Park Plc announced that EACP had received a\ntakeover offer from Chiquita Brands South Pacific Limited ('Chiquita') at Aus\n$7.65 per share payable in cash less a cash dividend of Aus $2.20 per share paid\nto EACP shareholders on 2nd March 2005. The Linton Park group owns 70.5%\n(4,570,637 ordinary shares) of EACP's issued share capital through its wholly\nowned subsidiary, Bordure Limited. Bordure Limited has today accepted Chiquita's\noffer.\n\nThe offer from Chiquita remains subject to it acquiring an interest in more than\n90% of EACP's shares and there being no material adverse change in EACP prior to\nclosure of the offer on 19th April 2005.\n\nEACP, through its subsidiaries, grows, packs and markets citrus fruit in the\nPacific Rim and manages horticultural property. During the year ended 31st\nDecember 2003, the Linton Park group's share of EACP's profits amounted to\n£1,143,000 and the value of the net operating assets was £17,943,000.\n\nIt is intended to use the proceeds from the disposal towards reducing the\ngroup's borrowing requirements.\n\n\nFor further enquiries please contact Camellia Plc\nMalcolm Perkins, Chairman\n01622 746655\n31st March 2005\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]