Disposal of Shareholding in C

RNS Number : 0606P

De La Rue PLC

08 July 2010

 

De La Rue plc

Disposal of shareholding in Camelot Group Limited

Further to the announcement on 26 March 2010 and following National Lottery Commission approval, De La Rue confirms completion of the sale of the Group's 20% shareholding in Camelot, operator of the UK National Lottery, to Ontario Teachers' Pension Plan. 

The total proceeds receivable, subject to finalisation of completion accounts and including a final dividend of £2.6m, are expected to be not less than £77.8m.   The gain on the sale will not be subject to tax.

As previously announced, the proceeds will be used to reduce the Group's pension fund deficit by £35m as well as to return surplus cash to shareholders via a share buy back over a period of time.

8 July 2010

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For further information, please contact:

James Hussey	Chief Executive	[phone]
Colin Child	Group Finance Director	[phone]
Clare Lloyd Williams	Group Communications Manager	[phone]
Richard Mountain	Financial Dynamics	[phone]

De La Rue is the world's largest commercial security printer and papermaker, involved in the production of over 150 national currencies and a wide range of security documents such as passports, authentication labels and fiscal stamps. The company is a leading provider of cash sorting equipment and software solutions to Central Banks, helping them to reduce the cost of handling cash. De La Rue also pioneers new technologies in government identity solutions for national identification, driver's licence and passport issuing schemes. De La Rue employs approximately 4,000 people worldwide and is a member of the FTSE 250.

For further information visit De La Rue's website at www.delarue.com

 

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