Camellia PLC
26 September 2000
CAMELLIA PLC DISPOSES OF ITS ENTIRE SHAREHOLDING IN BRITISH MOHAIR HOLDINGS
PLC
Camellia plc ('Camellia') announces that it has today sold its entire holding
of 3,955,000 shares in British Mohair Holdings plc ('British Mohair') to
Browallia International BV ('Browallia'). The sale was made at a price of 163
pence per British Mohair share, amounting to some £ 6.4 million, payable
wholly in cash. The sale proceeds will be used by the Camellia group for the
redemption of debt and further investments where appropriate.
The principal activities of British Mohair are the production of yarns for
weaving and knitting and the manufacture of specialised engineering products.
In relation to Camellia's holding in the group, the attributable net assets of
British Mohair were £7.9 million at 30 June 2000 and the attributable net loss
for the year ended 31 December 1999 was £661,000.
Camellia has agreed with Browallia that Camellia's recommended cash offer of
160 pence per British Mohair share, the terms and conditions of which were set
out in an offer document dated 7 September 2000, will lapse on 28 September
2000, the first closing date of the Camellia offer.
FOR FURTHER INFORMATION
KPMG Corporate Finance 020 7311 8164
Tom Franks, Director