2 Jul 2019 07:00
2 July 2019
Low & Bonar PLC
Completion of sale of Construction Fibres business, and appointment of Executive Chairman
Low & Bonar PLC, the international performance materials group, confirms that, further to the announcement made on 3 June 2019, it has completed the sale of its Construction Fibres business. The final consideration payable for the business and associated assets will be €6.2m (£5.5m). Under the terms of the agreement €5.7m (£5.1m) was received on completion and the remainder will be received over the next two months.
In addition, and further to the announcement made on 20 May 2019, the Board also confirms that Daniel Dayan has been appointed Executive Chairman with effect from today, and that Philip de Klerk stepped down as CEO and left the Board on 1 July 2019.
For further information, please contact:
Low & Bonar PLC |
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Daniel Dayan | Executive Chairman | 020 7535 3180 |
Ian Ashton | Group CFO |
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Instinctif Partners |
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Matthew Smallwood |
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Rosie Driscoll |
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LWB.L (LWB)