Update on planned sale of BHI
- Process on track
- Tax efficient disposal
- Completion within 05/06 financial year
- Significant proportion of proceeds to be returned to shareholders
Notes
The process to sell BHI remains on track.
We anticipate that the sale will be tax efficient for the Group although the precise detail will depend upon the proceeds received and the structure of the deal.
Preparations for the sale are progressing well although this is clearly a complex process. We expect to issue the Information Memorandum by early July and we anticipate completion in this financial year.
It remains our intention to return a significant proportion of the proceeds to shareholders.
