FBH.L Regulatory News (FBH)

28 Jun 2006 16:40

FBD Holdings PLC28 June 2006 PRESS RELEASE FARMER BUSINESS DEVELOPMENTS PLC REDUCES ITS SHAREHOLDING IN FBD HOLDINGS PLC ("FBD") Farmer Business Developments plc ("the Company") announces that it has todaydisposed of 4.5m. shares in FBD Holdings plc for a consideration of €153m. Thetransaction was effected via a placing on the Irish Stock Exchange. Following the transaction, Farmer Business Developments plc maintains itsposition as the largest shareholder in FBD Holdings plc, with a holding of 8.5m.shares, representing 24.8% of the issued share capital. The Company iscommitted to remain as a strategic long-term investor in FBD Holdings plc. The FBD Group has created significant wealth for its shareholders since itsestablishment in the late 1960s. Farmer Business Developments plc has decidedto realise some of this value for purposes which it has identified, includingthe funding of share buybacks from its shareholders. Background Information Farmer Business Developments plc was established in 1988 as part of thecorporate restructuring undertaken when FBD Holdings plc was about to be formedand prior to FBD's listing on the Irish & London Stock Exchanges. The Companyhas 4,500 shareholders, practically all of whom are farmers and whose stakeoriginated in the late 1960s and early 1970s when the companies that now formpart of the FBD Holdings plc group were established. Farmer Business Developments plc is an investment holding company. Its stakein FBD Holdings plc has been its sole investment, for all intents and purposes,over the years. The Company has been and intends to continue being a stableshareholder in FBD Holdings plc. Ends 28th June 2006 For Reference: Telephone No FBD Bryan Barry Tel 353-1-408 0034 Secretary Farmer Business Developments plc This announcement has been issued through the Companies Announcement Service of The Irish Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange