Disposal

15 Jan 2008 08:00

Genus PLC15 January 2008 15 January 2008 Genus plc ("Genus" or "the Company") Animalcare Disposal and Notice of Interim Results Animalcare Disposal Genus, a world leading animal genetics company, is pleased to announce thecompletion of the disposal of its non-core veterinary pharmaceutical business,Animalcare Limited ("Animalcare"), to Ritchey plc ("Ritchey") for a total cashconsideration of £14m, including a deferred element of £0.6m. The agreement to dispose of Animalcare was announced on 27 November, subject toRitchey raising funds upon its admission to the AIM market. Ritchey was todayadmitted to trading on AIM. This sale concludes Genus' programme of non-core business disposals, followingthe sales of SyAqua Mexico, the Company's remaining shrimp business, and HTSPE,the Company's non-core development consulting business, in the first half of thecurrent financial year. Notice of Interim Results Genus will announce its interim results for the six months ended 31 December2007 on Tuesday 26 February 2008. For further information, please contact: Genus plc Tel: 01256 345970Richard Wood, Chief ExecutiveMartin Boden, Finance Director Landsbanki Securities (UK) Limited Tel: 020 7426 9000Financial Adviser & Joint BrokerShaun Dobson Buchanan Communications Tel: 020 7466 5000Charles Ryland / Suzanne Brocks About Genus Genus sells added value products for livestock farming and food producers bycreating advances to animal breeding through biotechnology. Its non-GeneticallyModified Organism (GMO) technology is applicable across all livestock speciesbut is only commercialised by Genus in the bovine and porcine farming sectors. Genus' worldwide sales are made in seventy countries under the trade marks "ABS"(dairy and beef cattle) and "PIC" (pigs) and comprise semen and breeding animalswith superior genetics to those animals currently in production. Customers useGenus genetics in their herds to produce offspring with greater productionefficiency, milk and meat output and quality. These offspring are used to supplythe global dairy and meat supply chain. Genus' competitive edge has been created from the ownership and control ofproprietary lines of breeding animals, the biotechnology used to improve themand the Group's global production and distribution network. Headquartered in Basingstoke, England, Genus companies operate in 30 countrieson six continents, with research laboratories located in Madison, USA. This information is provided by RNS The company news service from the London Stock Exchange