First Milk has today disposed of 4,170,171 ordinary shares in Robert Wiseman Dairies (representing 5.7 per cent of the issued share capital) at a price of 450 pence per share.
These shares were purchased at 250 pence in November 2004.
Following the disposal, First Milk hold 7,162,026 shares in the Company (representing 10.0 per cent of the issued share capital).
Peter Humphreys, Chief Executive of First Milk, said:
"We retain a 10 per cent shareholding in Robert Wiseman Dairies and remain committed to providing excellent service to them as part of our long-term strategic partnership.
"This disposal simply enables us to fund investment in our cheese business. We have no current plans to dispose of any of our remaining shareholding in the Company."
Commenting on the disposal, Robert Wiseman, Chief Executive of Robert Wiseman Dairies, added:
"We envisage no change in our strategic partnership with First Milk and its members and we continue to value their ongoing support as shareholders and trading partners."
For further information, please contact:
Paul Flanagan, Group communications director
T: 0141 8476789
M: 07767 241452
20 November 2009