Genus PlcPrint | Close Window

Disposal
 RNS Number:5460E
Genus PLC
14 June 2006


For Immediate Release                                         14 June 2006

                                   Genus plc

                            Disposal of SyAqua Brazil


In line with the strategy stated in the Interim Results announcement dated 7
June 2006 to divest the SyAqua Shrimp business, Genus plc ('Genus') the world's
leading animal genetics company, is pleased to announce the disposal of SyAqua
Brazil to an MBO-led team for a consideration of US $6.0m (£3.25m) in cash,
which approximates net asset value.

For the ten months ended 30 April 2006, SyAqua Brazil generated turnover of
£2.1m and an operating profit of £0.3m before research and development expense.

Commenting on the disposal Richard Wood, Chief Executive, said "We have moved
swiftly to implement our strategy for disposal. With Brazil now sold, we are
considering offers for the Mexican and Thai shrimp businesses."


FOR FURTHER INFORMATION


Genus plc
Richard Wood, Chief Executive                         Tel: 01256 345971
David Timmins, Group Finance Director                 Tel: 01256 345977


Buchanan Communications
Charles Ryland / Suzanne Brocks                       Tel: 020 7466 5000



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END