SOURCE: Enodis PLC

August 03, 2005 02:01 ET

Enodis Plc announces Restructuring Programme

LONDON, UK -- (MARKET WIRE) -- August 3, 2005 --

                             Enodis plc

   Capital Restructuring Programme - Enodis files for Deregistration

Enodis plc today announces that it has entered the final stage of its capital restructuring programme launched on 17 May 2005. Since the Company's last announcement, the following steps have been accomplished:-

- On 15 July 2005, the US Securities and Exchange Commission ("SEC") confirmed that the Company's American Depositary Receipts had been formally de-listed from the New York Stock Exchange.

- On 27 July 2005, the Company commenced termination of liabilities under its Notes, by depositing into a trust gilts and cash sufficient to meet the future liabilities arising on the Notes up to the time of the first call in April 2007.

- On 2 August 2005, Enodis filed with the SEC notifications to terminate the registration of its Ordinary Shares and its Notes under the US Securities Exchange Act of 1934. Accordingly, its US reporting obligations are now suspended and deregistration is expected to become effective by 31 October 2005. At any time prior to effective deregistration the Company has the right voluntarily to withdraw the notification.

Peter Brooks, Chairman, said "The capital restructuring programme is proceeding as planned and is expected to deliver the benefits announced on 17 May, including the ability to reinstate dividends and realise cost savings."

3 August 2005

Contacts:

Dave McCulloch         Chief Executive Officer          +44 20 7304 6006
Dave Wrench            Chief Financial Officer          +44 20 7304 6006
Andrew Lorenz          Financial Dynamics               +44 20 7269 7113


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