Loudwater Trust Ltd LWT Completion of disposal

  Loudwater Trust Ltd (LWT) - Completion of disposal

RNS Number : 2683K
Loudwater Trust Limited
17 August 2012


Loudwater Trust Limited

Completion of disposal of investment

17 August 2012



Further to  the  announcement  dated  4 July  2012,  Loudwater  Trust  Limited 
("Loudwater" or the  "Company") (AIM:  LWT) is  pleased to  announce that  the 
disposal of its shareholding  in AgraQuest, Inc. to  Bayer Cropscience LLC,  a 
subsidiary of Bayer AG has now completed following satisfaction of a number of
customary conditions including regulatory clearances.



The terms are unchanged  from the 4 July  2012 announcement. The initial  cash 
consideration of approximately US$37.7  million (approximately £24 million  or 
39.9 pence per share) has been received.



Approximately $3 million is held  in escrow against potential  indemnification 
claims for up to 18 months following completion, and a further $2.1 million up
to April 2016.



In addition there is contingent consideration payable should AgraQuest achieve
certain performance milestones in future years,  at certain periods up to  the 
financial year ending December 2016. The maximum contingent consideration that
could be due to Loudwater is £3.5 million.



A further announcement will be made  shortly regarding a return of capital  to 
shareholders including the quantum and timing.





-ends-

For further information

Loudwater Investment Partners Limited

Edward Forwood +44 (0)20 3372
6400



Panmure Gordon (UK) Limited

Andrew Potts +44 (0)20
7459 3600

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

END


DISUBURRUSAWAAR -0- Aug/17/2012 10:25 GMT
 
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