Sinclair (William) Holdings PLC AGM Statement (3998D)

TIDMSNCL

RNS Number : 3998D

Sinclair (William) Holdings PLC

28 March 2014

WILLIAM SINCLAIR HOLDINGS PLC

("William Sinclair" or "the Company")

AGM Statement

At the William Sinclair AGM to be held today at 11.00am at William Sinclair Horticulture Limited, Bridges Road, Ellesmere Port, Cheshire CH65 4LB the Chairman, Hugh Etheridge, will make the following statement:

"The development of Ellesmere Port has been progressing well, assisted by the GBP8.24 million fund raise announced on 20 December 2013. Capital expenditure and timelines at the site remain on track with the first elements of the Company's new state of the art processing equipment having already been delivered.

"The Company is pleased to confirm that it has completed on its five year term loan of GBP2.4 million provided by Royal Bank of Scotland. This is in addition to the working capital facility of up to GBP25 million, also provided by Royal Bank of Scotland, which was completed on 16 January 2014. The Company is now well funded to support its growth and new product launch plans.

"While it is still very early in the season sales for the year to date are well ahead of the comparable period in 2013. The key selling months are still to come, however the Board is encouraged that more normal conditions appear to be returning to the sector after two years of extreme weather and challenging trading."

For further information:

William Sinclair Holdings PLC

   Peter Rush, Chief Executive                              Tel: 01522 537 561

Peter Williams, Finance Director

   Mark Way, Corporate Communications            Tel: 07786 116 991

WH Ireland Ltd

   Andrew Kitchingman                                        Tel: 0113 394 6619 
   Nick Field                                                        Tel: 0207 220 1658

This information is provided by RNS

The company news service from the London Stock Exchange

END

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