Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Tate & Lyle PLC (TATE)

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Thursday 01 July, 2010

Tate & Lyle PLC

Disposal

Disposal

Tate & Lyle PLC

TATE & LYLE TAKES MAJOR STEP TO FOCUS BUSINESS THROUGH SALE OF EU SUGAR OPERATIONS

Tate & Lyle PLC (“Tate & Lyle”) announces today it has signed an agreement for the sale of its EU Sugar Refining operations (“EUS”) to American Sugar Refining, Inc. The consideration is £211 million payable in cash, subject to closing adjustments for net cash and working capital, with the proceeds used to reduce Tate & Lyle’s net debt1.

On 27 May 2010, Tate & Lyle announced its clear intentions to focus, fix and grow its business. Today’s announcement is fully consistent with those intentions and will result in a more focused, less volatile business, and a solid platform to deliver sustainable long-term growth in Speciality Food Ingredients, supported by cash generated from Bulk Ingredients.

EUS consists of the cane sugar refineries in London, UK, and Lisbon, Portugal, the Lyle’s Golden Syrup factory in London, UK, the associated sugar and syrup brands and the Tate & Lyle Process Technology consulting business. In the year ended 31 March 2010, these businesses had external sales of £689 million and made an adjusted2 operating profit of £14 million (after transitional aid of £17 million), and had gross assets of £374 million at 31 March 2010. The sale excludes historic UK pension assets and liabilities and is expected to give rise to a book loss on disposal, before costs, of approximately £55 million, subject to exchange rate movements and the timing of completion. The transaction is expected to be neutral to the Group’s adjusted earnings per share on total operations in the 2011 financial year.

The completion of the transaction, which is conditional upon anti-trust clearance in Portugal, is expected to occur in approximately two months. Payment of £5 million of the consideration is contingent on the transfer of certain joint venture shareholdings that are subject to pre-emption rights held by the other shareholders.

Tate & Lyle has provided American Sugar Refining, Inc. with a perpetual worldwide licence to use the Tate & Lyle brand in connection with the retail sale of sugar and in other limited circumstances.

Tate & Lyle also announces the launch of processes to sell the remaining businesses within the Sugars division, principally Molasses and Vietnamese sugar.

The Sugars division will be classified as discontinued in the Interim Results to 30 September 2010.

Javed Ahmed, Chief Executive of Tate & Lyle said:

“Sugar refining has enjoyed a long and proud history within Tate & Lyle, but we believe the interests of this business and its employees are now best served by being part of a company for whom sugar refining is core. I sincerely thank our employees for their hard work and commitment over the years, and wish them every success in the future.

“Tate & Lyle’s clear priority is to grow its Speciality Food Ingredients business, supported by cash generated from Bulk Ingredients. This disposal will enable us to concentrate our resources on delivering our strategic objectives as we focus, fix and grow our business.”

Note 1 Net debt at 31 March 2010 was £814 million.

Note 2 Excluding exceptional items and amortisation of acquired intangibles.

END

For more information contact Tate & Lyle PLC:

Chris McLeish, Director of Investor Relations
Tel: +44 (0) 20 7977 6211 or Mobile: +44 (0) 7919 102 730
 
William Baldwin-Charles, Head of Media Relations
Tel: +44 (0) 20 7977 6165 or Mobile: +44 (0) 7810 151 425

About Tate & Lyle:

Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from more than 45 production facilities around the world. Through our large-scale, efficient manufacturing plants, we turn raw materials into distinctive, high quality ingredients for our customers. Our ingredients and solutions add taste, texture, nutrition and increased functionality to products that millions of people around the world use or consume every day.

Tate & Lyle’s range of leading branded food ingredients includes SPLENDA® Sucralose, PROMITOR™ Dietary Fiber and STA-LITE® Polydextrose. Tate & Lyle also produces branded industrial ingredients including Bio-PDO™, Ethylex® and Sta-Lok® paper starches; and staple ingredients such as high fructose corn syrup, ethanol, citric acid and basic starches. In addition to providing a wide range of ingredients our Innovation and Commercial Development Group supports customers by providing product development, technical advice and proprietary consumer insight studies.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2010, Tate & Lyle employed 5,666 people in its subsidiaries and joint ventures, and sales totalled £3.50 billion. http://www.tateandlyle.com.

SPLENDA® is a trademark of McNeil Nutritionals, LLC