Business
Disposal
Disposal.
About this update from Genus Plc
[{"type":"text","content":"\n Genus PLC\n15 January 2008\n\n\n15 January 2008\n\n Genus plc\n ('Genus' or 'the Company')\n\n Animalcare Disposal and Notice of Interim Results\n\nAnimalcare Disposal\n\nGenus, a world leading animal genetics company, is pleased to announce the\ncompletion of the disposal of its non-core veterinary pharmaceutical business,\nAnimalcare Limited ('Animalcare'), to Ritchey plc ('Ritchey') for a total cash\nconsideration of £14m, including a deferred element of £0.6m.\n\nThe agreement to dispose of Animalcare was announced on 27 November, subject to\nRitchey raising funds upon its admission to the AIM market. Ritchey was today\nadmitted to trading on AIM.\n\nThis sale concludes Genus' programme of non-core business disposals, following\nthe sales of SyAqua Mexico, the Company's remaining shrimp business, and HTSPE,\nthe Company's non-core development consulting business, in the first half of the\ncurrent financial year.\n\nNotice of Interim Results\n\nGenus will announce its interim results for the six months ended 31 December\n2007 on Tuesday 26 February 2008.\n\nFor further information, please contact:\n\nGenus plc Tel: 01256 345970\nRichard Wood, Chief Executive\nMartin Boden, Finance Director\n\nLandsbanki Securities (UK) Limited Tel: 020 7426 9000\nFinancial Adviser & Joint Broker\nShaun Dobson\n\nBuchanan Communications Tel: 020 7466 5000\nCharles Ryland / Suzanne Brocks\n\n\n\nAbout Genus\n\nGenus sells added value products for livestock farming and food producers by\ncreating advances to animal breeding through biotechnology. Its non-Genetically\nModified Organism (GMO) technology is applicable across all livestock species\nbut is only commercialised by Genus in the bovine and porcine farming sectors.\n\nGenus' worldwide sales are made in seventy countries under the trade marks 'ABS'\n(dairy and beef cattle) and 'PIC' (pigs) and comprise semen and breeding animals\nwith superior genetics to those animals currently in production. Customers use\nGenus genetics in their herds to produce offspring with greater production\nefficiency, milk and meat output and quality. These offspring are used to supply\nthe global dairy and meat supply chain.\n\nGenus' competitive edge has been created from the ownership and control of\nproprietary lines of breeding animals, the biotechnology used to improve them\nand the Group's global ...