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Kiotech in talks to acquire Lawrence PLC's Agil

Published on 13 October, 2006, Last updated at 06:55 GMT

By John Gleeson
Dow Jones

Kiotech International PLC said it is in discussions with Lawrence PLC, which may or may not lead to the acquisition of Agil, the trading division of Lawrence PLC which operates in the feed additive market.

Kiotech said that it is intended that the acquisition, if it is completed, would be funded in part by a placing of new Kiotech shares.

Shares in Kiotech were temporarily suspended pending the announcement.

If the acquisition is completed, Kiotech said it would constitute a reverse takeover requiring shareholder approval.

In a separate statement, the board of Lawrence said it anticipates that the expected proceeds of the disposal would, should it proceed, be used to accelerate the programme of registrations with ECO Animal Health.



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