Bolton Fell update
February 01 2010 - 2:00AM
UK Regulatory
TIDMSNCL
RNS Number : 4020G
Sinclair (William) Holdings PLC
01 February 2010
1 February 2010
WILLIAM SINCLAIR HOLDINGS PLC
("William Sinclair" or "the Company")
Bolton Fell update
William Sinclair Holdings plc has been informed by Natural England that the
European Commission has confirmed that Bolton Fell Moss in Cumbria has become a
Site of Community Importance (SCI). This European designation means that the UK
government will now designate the site as a Special Area of Conservation (SAC).
As previously disclosed the Company has been conducting negotiations
with Natural England regarding the potential compulsory purchase of its peat bog
and factory at Bolton Fell. The designation as a SAC will be a step forward in
reaching agreement over the level of compensation due to the company as a result
of this process. Discussions with Natural England are ongoing and a voluntary
agreement could be reached in the spring of 2010.
Bernard Burns, Chief
Executive Officer for William Sinclair, said "We are pleased that any remaining
doubt about the designation of Bolton Fell has now been removed and we can move
forward in the discussions with Natural England regarding compensation."
The Company believes that the negotiations will probably involve a five
year exit from the facility with reducing annual harvests allowing an efficient
transfer of production to an alternative site. Several suitable alternatives
have been identified and are being evaluated and William Sinclair has sufficient
peat from its harvest to meet expected demand for the 2010 season.
For further information:
Arbuthnot SecuritiesTel: 020 7012 2000
Alastair Moreton
Alasdair Younie
Madano PartnershipTel: 020 7593 4000
Matthew Moth
Charles Reynolds
About William Sinclair
William Sinclair Holdings PLC is one of the UK's leading producers of commercial
horticulture and branded garden products. William Sinclair's well established
brands include J Arthur Bower's, Silvaperl and New Horizon - the leading brand
in the fast growing peat free garden compost and organic plant foods sector.
William Sinclair's customers include national accounts such as The Garden Centre
Group (formerly Wyevale), Wilkinson, Homebase and B&Q as well as an extensive
range of independent garden centres.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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