RNSM Ransom(William)

 

TIDMRNSM 
 
RNS Number : 7527G 
Ransom(William) & Son PLC 
05 February 2010 
 

For immediate release 
                                                  5 February 2010 
                            WILLIAM RANSOM & SON PLC 
                            (the "Company", "Ransom") 
                            DISPOSAL OF MANUKA GOLD 
The Company is pleased to announce that it has today entered into an agreement 
to dispose of Manuka Gold to Honey New Zealand (International) Limited. The 
Manuka Gold brand is composed of various manuka honey based products most of 
which are imported from New Zealand. 
The Company will receive total cash consideration of GBP0.56m for the Manuka 
Gold brand and related inventory. The proceeds will be used to reduce the 
Company's borrowings. 
The Manuka Gold products generated annual sales of approximately GBP0.3m and 
gross margin of approximately GBP0.15m for the year ended March 2009. In the 
year to date, despite sales increases in this product, the margin being obtained 
has significantly eroded due to changing distribution channel mix. It is 
anticipated that Ransom will continue to distribute the products to some of its 
customers post completion for a fee. 
Ivor Harrison, Chief Executive, commented: 
 
"The board believes that the divestment of Manuka Gold is in the best interests 
of the Company and its stakeholders. The divestment releases significant working 
capital and is consistent with the Company's strategy of creating a focused, 
higher margin, differentiated natural consumer healthcare business." 
 
 
 
William Ransom & Son plc:                                               01462 
443527 
Ivor Harrison, Chief Executive 
 
Numis Securities Limited: 
020 7260 1000 
Nominated Adviser: Michael Meade 
Corporate Broker: James Black 
 
Buchanan Communications:                                              020 
7466 5000 
Charles Ryland /James Strong 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 DISLLFSLFFIEIII 
 

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