Last checked at 8 Jul 2010 13:57
De La Rue plc
Disposal of shareholding in Camelot Group Limited
Further to the announcement on 26 March 2010 and following National Lottery Commission approval, De La Rue confirms completion of the sale of the Group's 20% shareholding in Camelot, operator of the UK National Lottery, to Ontario Teachers' Pension Plan.
The total proceeds receivable, subject to finalisation of completion accounts and including a final dividend of £2.6m, are expected to be not less than £77.8m. The gain on the sale will not be subject to tax.
As previously announced, the proceeds will be used to reduce the Group's pension fund deficit by £35m as well as to return surplus cash to shareholders via a share buy back over a period of time.
8 July 2010
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For further information, please contact:
| James Hussey | Chief Executive | +44 (0)1256 605000 |
| Colin Child | Group Finance Director | +44 (0)1256 605000 |
| Clare Lloyd Williams | Group Communications Manager | +44 (0)1256 605000 |
| Richard Mountain | Financial Dynamics | +44 (0)207 269 7291 |
| De La Rue is the world's largest commercial security printer and papermaker, involved in the production of over 150 national currencies and a wide range of security documents such as passports, authentication labels and fiscal stamps. The company is a leading provider of cash sorting equipment and software solutions to Central Banks, helping them to reduce the cost of handling cash. De La Rue also pioneers new technologies in government identity solutions for national identification, driver's licence and passport issuing schemes. De La Rue employs approximately 4,000 people worldwide and is a member of the FTSE 250.
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| For further information visit De La Rue's website at www.delarue.com |