Genus Regulatory News (GNS)

14 Jun 2006 09:02

Genus PLC14 June 2006 For Immediate Release 14 June 2006 Genus plc Disposal of SyAqua Brazil In line with the strategy stated in the Interim Results announcement dated 7June 2006 to divest the SyAqua Shrimp business, Genus plc ('Genus') the world'sleading animal genetics company, is pleased to announce the disposal of SyAquaBrazil to an MBO-led team for a consideration of US $6.0m (£3.25m) in cash,which approximates net asset value. For the ten months ended 30 April 2006, SyAqua Brazil generated turnover of£2.1m and an operating profit of £0.3m before research and development expense. Commenting on the disposal Richard Wood, Chief Executive, said "We have movedswiftly to implement our strategy for disposal. With Brazil now sold, we areconsidering offers for the Mexican and Thai shrimp businesses." FOR FURTHER INFORMATION Genus plcRichard Wood, Chief Executive Tel: 01256 345971David Timmins, Group Finance Director Tel: 01256 345977 Buchanan CommunicationsCharles Ryland / Suzanne Brocks Tel: 020 7466 5000 This information is provided by RNS The company news service from the London Stock Exchange