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AMA GROUP LIMITED — Capital/Financing Update 2009
Jul 5, 2009
64372_rns_2009-07-05_1f5325f8-1ead-405d-8462-31d07d1f7986.pdf
Capital/Financing Update
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30[th] June 2009
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ASX ANNOUNCEMENT
AUTOLAC BUSINESS SOLD
Allomak Limited (“Allomak” or the “Company”) (ASX Code: AMA) today announced that it has sold the operating business of Autolac Pty Ltd. During the restructure period, the Board assessed the Autolac business and believes that it is not part of the go-forward strategy of the Company.
The buyer of the business is Autolac Industries Pty Ltd, an independent entity with experience in the automotive paint industry. The new owners have acquired the business operations, inventory, plant and equipment. They have also contracted to take on employment of the Autolac staff.
This decision will assist in lowering the working capital and debt of the Company.
For further information please contact:
Tom McDonald CFO and Joint Company Secretary Allomak Limited (02) 8244 9200