In view of recent articles and enquiries in respect of a trading statement issued by our Parent Company, PZ Cussons International Limited to the London Stock Exchange, we would like to clarify to the Nigerian Stock Exchange and investing public on the following:
1. PZ Cussons International Limited entered into an exchange of contracts with FrieslandCapina WAMCO Nigeria for the sale of assets associated with Nutricima Limited in Nigeria.
2. Nutricima Limited is wholly owned by PZ Cussons International Limited, and this proposed assets sale is in line with the Group's "focus, scale and accelerate" strategy in order to streamline the Group's focus on core personal care and beauty brands.
The transaction which is subject to Nigerian Law will undergo Regulatory clearance subject to completion.
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