Share disposal

15 Dec 2006 07:58

Fujin Technology PLC15 December 2006 15 December 2006 Fujin Technology plc Share Disposal Fujin Technology plc (AIM: FJN, "Fujin", "the Company") today announces that ithas sold its entire shareholding in Calyx Group plc ("Calyx") at a price of 77pper share realising £1,961,783. In June of this year, following the sale of the Integration Division (known asMatrix Communications) to Calyx, Fujin received £33.5m in cash. Post thefinalisation of the Calyx financial accounts in the New Year the Company expectsto receive a further £3m in February 2007 and a final payment of £1,538,216 inJune 2007. In total Fujin will have received £40m for the sale of the integrationbusinesses. Ian Smith, Chief Executive Officer of Fujin, commented: "We are delighted to have completed the sale of these businesses for a cashprofit of more than £20m just over two years after acquiring them for littlemore than £19m. Having recently returned £10m to our shareholders by way of acapital distribution, it is our intention to use the remaining capital to pursuefurther growth and acquisitions in 2007." Enquiries: College Hill 020 7457 2020Adrian Duffield / Corinna Dorward This information is provided by RNS The company news service from the London Stock Exchange