TIDMSNCL 
 
RNS Number : 9872I 
Sinclair (William) Holdings PLC 
23 March 2010 
 
WILLIAM SINCLAIR HOLDINGS PLC 
 ("William Sinclair" or "the Company") 
 
 
Bolton Fell update 
William Sinclair is pleased to announce that it has reached an interim agreement 
with Natural England over the future of its peat bog operations at Bolton Fell 
Moss in Cumbria.  The main terms of the agreement are as follows: 
  *  An advance initial payment of GBP9 million will be made to William Sinclair by 
  12 April 2010.  William Sinclair will continue to work with Natural England to 
  assess the level of full compensation payable.  This compensation will be 
  calculated in accordance with the principles set out in the National Parks and 
  Access to Countryside Act as well as the Compulsory Purchase Act and the Land 
  Compensation Act. 
  *  William Sinclair's professional advisors calculate the value of compensation due to the Company to be substantially greater than the GBP9 million advance payment. 
  *  William Sinclair will implement a phased withdrawal of peat harvesting from Bolton Fell commencing immediately and completing by November 2013. 
  *  During this period William Sinclair will continue to harvest peat while working toward a restoration scheme agreed with Natural England.  This scheme will accelerate regeneration of the peat bogs and ensure the ecological value of the site is sustained. 
  *  In the event that compensation cannot be agreed between the parties before 30 November 2011 the matter can be referred by either side to the Lands Tribunal, specifically the Upper Tribunal (Lands Chamber), for a decision.  In such circumstances, it is possible that payment of further compensation could be delayed by a further year or more. 
 
Bernard Burns, William Sinclair Chief Executive, said: 
"We are delighted to have clarity on the Bolton Fell issue.  William Sinclair is 
half way through a GBP3 million, three year investment programme in peat free 
technology to improve the quality and availability of this growing material. 
"Our 'New Horizon' peat free product is substantially better in terms of 
performance and reliability than competing products.  Part of the compensation 
we are receiving for the Bolton Fell bog will be used to consolidate our leading 
position in the peat free market.  This sector of the market will become 
increasingly important following the announcement by the Environment Secretary 
on 8 March 2010 about the phase-out of peat in compost material. 
"William Sinclair can continue to meet customer demand for its peat based 
products via the Company's remaining peat reserves at other UK sites." 
For further information: 
William Sinclair Holdings plc                            Tel: 01522 537 
561 
Bernard Burns, Chief Executive 
Peter Williams, Finance Director 
Arbuthnot Securities                                         Tel: 020 7012 
2000 
Alastair Moreton 
Alasdair Younie 
Madano Partnership                                         Tel: 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. 
Ends 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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