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BRIEF-Genus comments on NMR proposed withdrawal from Milk Pension Fund
June 1, 2017 / 6:19 AM / 6 months ago

BRIEF-Genus comments on NMR proposed withdrawal from Milk Pension Fund

June 1 (Reuters) - Genus Plc:

* ‍Draws attention to announcement made today by national Milk Records Plc on NEX Exchange Growth Market​

* Circular regarding NMR’s proposed withdrawal from Milk Pension Fund under a flexible apportionment arrangement between NMR, genus, trustees of MPF​

* ‍MPF is a multi-employer scheme where Genus has joint and several liability for total liabilities of scheme​

* ‍in return for right to withdraw from MPF, NMR will, among other matters, make a one-off, lump sum cash payment of 10.1 mln stg to MPF​

* NMR will also under withdrawal deal ‍make a payment to Genus of 4.7 mln stg of which 1.4 mln stg will be satisfied by issue NMR shares​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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