Anglo-Welsh Group PLC
30 March 2000
Anglo-Welsh Group Plc announces that it has exchanged conditional contracts
for the disposal of the assets and trade of its Falcon Agricultural
engineering division to Oaklane Management Company Limited for cash
consideration of £220,000. The contract is expected to complete on or before
5 May 2000.
The Directors do not regard Falcon as a core business. The disposal of the
Falcon business does not include the development land acquired at the time of
the original acquisition of Falcon. The Company intends to dispose of this
land separately. The disposal of Falcon is not expected to have any material
effect upon the future trading results of the Group. The approximate book
value of net assets transferred is £270,000. The proceeds of the disposal will
reduce borrowings of the Group.