RMC has announced that on 31 May 2004 it completed the sale of 28.9m shares in Adelaide Brighton Limited ("ABL"), representing 5.3% of the issued share capital of ABL, for which it will receive a cash consideration of A$1.30per share. The cash proceeds of A$37.6m (£14.8m) will be used to pay down debt. Together with the proceeds from the sale of 52m shares announced on 27 May 2004, RMC will receive cash proceeds during the current financial year of A$105.2m (£41.2m) from the disposal of ABL shares. This completes the disposal of all of RMC’s interest in ABL. Published under Cement News