Imperial Brands PLC Disposal (7814I)
20 Abril 2022 - 12:01PM
UK Regulatory
TIDMIMB
RNS Number : 7814I
Imperial Brands PLC
20 April 2022
IMPERIAL BRANDS PLC
Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42
20 April 2022
Update on Russia
Imperial Brands today announces the transfer of its Russian
business to investors based in Russia, subject to finalisation of
the registration of the transaction with local authorities, which
is expected to take place shortly.
The transaction aligns with our previously announced intention
to divest our entire Russian operation as a going concern in order
to provide the best outcome for our 1,000 Russian colleagues.
Imperial's operations include a sales and marketing business,
and a factory in Volgograd.
We continue to support our Ukrainian colleagues and their
families, including with transport and accommodation to enable them
to escape the areas most heavily affected by war, and resettlement
assistance for those who have left Ukraine.
There is no change to our previous guidance on the financial
impact of our exit from Russia and suspension of our Ukraine
operations. In FY21, Russia and Ukraine represented in total around
2 per cent of net revenues and 0.5 per cent of adjusted operating
profit. In addition, we estimate a non-cash write off of around
GBP225 million for this transaction, which we expect to be treated
as an adjusting item.
ENDS
Investor Contacts Media Contacts
+44 (0)7970 328 +44 (0)7740 096
Peter Durman 903 Jonathan Oliver 018
+44 (0)7581 052
James King 880
+44 (0)7974 615
Jennifer Ramsey 739
Cautionary Statement
Certain statements in this announcement constitute or may
constitute forward-looking statements. Any statement in this
announcement that is not a statement of historical fact including,
without limitation, those regarding the Company's future
expectations, operations, financial performance, financial
condition and business is or may be a forward-looking statement.
Such forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those projected or implied in any forward-looking statement.
These risks and uncertainties include, among other factors,
changing economic, financial, business or other market conditions.
These and other factors could adversely affect the outcome and
financial effects of the plans and events described in this
announcement. As a result, you are cautioned not to place any
reliance on such forward-looking statements. The forward-looking
statements reflect knowledge and information available at the date
of this announcement and the Company undertakes no obligation to
update its view of such risks and uncertainties or to update the
forward-looking statements contained herein. Nothing in this
announcement should be construed as a profit forecast or profit
estimate and no statement in this announcement should be
interpreted to mean that the future earnings per share of the
Company for current or future financial years will necessarily
match or exceed the historical or published earnings per share of
the Company. This announcement has been prepared for, and only for
the members of the Company, as a body, and no other persons. The
Company, its Directors, employees, agents or advisers do not accept
or assume responsibility to any other person to whom this
announcement is shown or into whose hands it may come and any such
responsibility or liability is expressly disclaimed.
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END
DISMZGZDZGMGZZM
(END) Dow Jones Newswires
April 20, 2022 11:01 ET (15:01 GMT)
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