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
Loudwater Trust Ltd LWT Completion of disposal
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