Armour Trust PLC
28 July 2000
Armour Trust plc ('Armour')
The Directors are pleased to announce that Armour has today
completed the disposal of Polco Products Limited following
the passing of the necessary resolution at this morning's
extraordinary general meeting.
The disposal represents the final stage of the recent
strategic reorganisation of Armour, which has been
undertaken over the past twelve months.
The creation of an Audio Electronics Division by merging
Radiomobile into Autoleads, following the latter's
acquisition in July 1999, has made a strong and profitable
business with excellent growth prospects in the audio and
fast developing in-car telematics market.
The group is financially stronger now than it has been for
some years with pro forma net cash at 30 April 2000 of £5.4
million compared to £3.5 million of net debt at 30th April
1999. This leaves Armour well positioned to develop its
current strategy of seeking growth in the technology sector.