Yule Catto & Co PLC
31 October 2005
Yule Catto & Co plc
Proposed sale of Autoclenz Ltd.
The Board of Yule Catto & Co. plc ('Yule Catto' or 'the Group') announces that
the Group is reviewing the potential disposal of Autoclenz Ltd., its car
valeting and vehicle preparation subsidiary, by way of admission to the AIM
market of the London Stock Exchange towards the end of November. If the
flotation is successful, anticipated gross proceeds of £18 million would be used
to reduce Group borrowings.
In the twelve months to 31 December 2004 Autoclenz Ltd. had an operating profit
of £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 its
interim results on 8 September, of reshaping its performance chemicals
activities.
31 October 2005
ENQUIRIES:
YULE CATTO Tel: 01279 442791
Alex Walker, Chief Executive
Sean Cummins, Finance Director
COLLEGE HILL Tel: 020 7457 2020
Gareth David
This information is provided by RNS
The company news service from the London Stock Exchange BXEBBZFBZ