LVD.L Regulatory News (LVD)

28 Feb 2005 10:43

Lavendon Group PLC28 February 2005 28 February 2005 LAVENDON GROUP PLC DISPOSAL OF AUSTRIAN OPERATION Lavendon Group plc (the Group) today announces the disposal of its Austrianbusiness, Zooom Arbeitsbuhnen Vermietung GmbH (Zooom). The consideration for the sale is £2.65 million payable in cash, whichrepresents the net asset value of Zooom at 31 December 2004, following arestructuring provision of £1.9 million made as part of the Group's widerrestructuring programme announced in December 2004. The proceeds from thedisposal will be used to reduce the Group's indebtedness. Zooom has a rental fleet of 248 machines operating through a network of fourdepots. For the year ended 31 December 2004 the business generated revenues of£2.1 million and made an operating loss prior to exceptional costs of £0.3million. The Group will announce its preliminary results for the year ended 31 December2004 on 8 March 2004. - ends - For further information please contact: Lavendon Group plc 01455 206 736Kevin Appleton, Chief ExecutiveAlan Merrell, Finance Director Weber Shandwick Square Mile 020 7067 0700Nick Dibden / Yvonne Alexander This information is provided by RNS The company news service from the London Stock Exchange