Last checked at 1 Sep 2008 17:24
1 September 2008
De La Rue plc ("De La Rue" or the "Company")
Completion of Disposal
De La Rue today announces the completion of the sale of its Cash Systems business (excluding those activities relating to banknote sorters, the Cash Processing Solutions Division) to a company incorporated for The Carlyle Group for a cash consideration of £360 million on a cash and debt free basis subject to adjustment for a normalised level of working capital.
As announced on 16 June 2008, De La Rue proposes to return approximately £460 million of capital to shareholders, equivalent to 305 pence per share. The capital will be returned through a B share scheme accompanied by a share consolidation. A Circular will be sent to shareholders during October containing details of the capital return, including the basis of the share consolidation which will be determined at that time.
This announcement has been made available on the Company's website www.delarue.com
De La Rue plc +44 (0) 1256 605 303
Leo Quinn, Chief Executive
Stephen King, Finance Director
Gary Williams, Head of Corporate Affairs
Financial Dynamics +44 (0) 20 7269 7121
Richard Mountain
Rothschild +44 (0) 20 7280 5000
Crispin Wright
Stuart Vincent
JPMorgan Cazenove +44 (0) 20 7588 2828
Michael Wentworth Stanley
Dermot McKechnie