Low & Bonar PLC Completion of sale of Construction Fibres business (1196E)

TIDMLWB

RNS Number : 1196E

Low & Bonar PLC

02 July 2019

2 July 2019

Low & Bonar PLC

Completion of sale of Construction Fibres business, and appointment of Executive Chairman

Low & Bonar PLC, the international performance materials group, confirms that, further to the announcement made on 3 June 2019, it has completed the sale of its Construction Fibres business. The final consideration payable for the business and associated assets will be EUR6.2m (GBP5.5m). Under the terms of the agreement EUR5.7m (GBP5.1m) was received on completion and the remainder will be received over the next two months.

In addition, and further to the announcement made on 20 May 2019, the Board also confirms that Daniel Dayan has been appointed Executive Chairman with effect from today, and that Philip de Klerk stepped down as CEO and left the Board on 1 July 2019.

For further information, please contact:

 
 Low & Bonar PLC 
 Daniel Dayan           Executive Chairman    020 7535 3180 
 Ian Ashton             Group CFO 
 Instinctif Partners                          020 7457 2020 
 Matthew Smallwood 
 Rosie Driscoll

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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July 02, 2019 02:00 ET (06:00 GMT)

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