Total Produce finalises Capespan Group transaction (5473Y)

TIDMTOT

RNS Number : 5473Y

Total Produce Plc

02 March 2012

Total Produce plc

Stock Exchange Announcement

Total Produce finalises EUR13m transaction to increase

its Capespan Shareholding to 25%

Total Produce plc, Europe's leading fresh produce company, is pleased to announce that its EUR13m transaction to increase its Shareholding in Capespan Group Limited ("Capespan Group"), the leading South African fresh produce company, has been completed.

Total Produce plc announced on 23 December 2011 that it had sold its 50% shareholding in the European distribution business Capespan International Holdings Ltd ("Capespan Europe"), to Capespan Group in exchange for an additional 20 million shares in Capespan Group and EUR8.5m in cash. The transaction was subject to regulatory approval and the issue of the shares was subject to the approval of Capespan Group shareholders. Both of these approvals have since been received. The EUR8.5m of cash was received in January and the shares have now been issued to Total Produce.

With a shareholding of 25.3%, Total Produce is now the second largest shareholder in Capespan Group.

Capespan Group and Total Produce both previously owned 50% of Capespan Europe. The full merger of Capespan Europe with Capespan Group enables the alignment of the offering to provide the best possible service to customers.

2 March 2012

For further information, please contact: Brian Bell, Wilson Hartnell PR Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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