Disposal

Sirdar PLC 9 June 2000 Sirdar PLC Disposal of Eversure Textiles Limited ('Eversure') Sirdar PLC announces that it yesterday disposed of its curtain and accessories subsidiary, Eversure to Mr. Sabur Rehman. The consideration is £550,000 payable as to £70,000 in cash on completion and the balance in cash within six months. The balance is secured by a guarantee given by Eversure supported by a legal charge over the freehold and leasehold property of Eversure. The net operating assets of Eversure as at 30 June 1999 amounted to £4.8 million and the operating loss for the year to 30 June 1999 was £0.9 million. With trade continuing to decline in the current year, the board reported in the interim announcement to shareholders dated 22 March 2000 that it was considering a number of options regarding the future of this division and this disposal will eliminate this loss making business from the group. The proceeds will be used to reduce group borrowings. The net assets of Eversure at completion were approximately £3 million. After taking into account goodwill previously written off of £4.8 million, the total loss on disposal, which will be charged in the group accounts to 30 June 2000 amounts to £7.3 million. Further enquiries: Sirdar PLC Kevin Henry, Finance Director 01924 371501

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