Camellia Regulatory News (CAM)

31 Mar 2005 16:01

Camellia PLC31 March 2005 Camellia Plc East African Coffee Plantations Limited ("EACP") The following is the text of an announcement made today by Linton Park Plc, asubsidiary of Camellia Plc. On the 3rd February 2005 Linton Park Plc announced that EACP had received atakeover offer from Chiquita Brands South Pacific Limited ("Chiquita") at Aus$7.65 per share payable in cash less a cash dividend of Aus $2.20 per share paidto EACP shareholders on 2nd March 2005. The Linton Park group owns 70.5%(4,570,637 ordinary shares) of EACP's issued share capital through its whollyowned subsidiary, Bordure Limited. Bordure Limited has today accepted Chiquita'soffer. The offer from Chiquita remains subject to it acquiring an interest in more than90% of EACP's shares and there being no material adverse change in EACP prior toclosure of the offer on 19th April 2005. EACP, through its subsidiaries, grows, packs and markets citrus fruit in thePacific Rim and manages horticultural property. During the year ended 31stDecember 2003, the Linton Park group's share of EACP's profits amounted to£1,143,000 and the value of the net operating assets was £17,943,000. It is intended to use the proceeds from the disposal towards reducing thegroup's borrowing requirements. For further enquiries please contact Camellia PlcMalcolm Perkins, Chairman01622 74665531st March 2005 This information is provided by RNS The company news service from the London Stock Exchange