Company: RKLIF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0001654954-25-008672
Chunk: 18

Company: RENTOKIL INITIAL PLC /FI
Filing Date: 2025-07-31
Form: 6-K
Chunk 18
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 future UK taxable profits, against which the UK tax losses will be utilised, progressively risk weighted, and applying the tax rates (substantively enacted as at the balance sheet date) applicable for each year. Deferred tax is fully recognised on UK tax losses (excluding capital losses) as at 30 June 2025 as it is considered probable that future taxable profits will be available against which the tax losses can be offset.

At the balance sheet date the Group had tax losses of $329m (December 2024: $303m) on which no deferred tax asset is recognised because it is not considered probable that future taxable profits will be available in certain jurisdictions to be able to benefit from those tax losses.

On 4 July 2025, the "One Big Beautiful Bill Act" (OBBBA) was signed by President Trump, making significant changes to US federal tax policy. The Group is still evaluating the impact of this bill and currently does not anticipate any material impact on its post tax earnings.

#### 6. Discontinued operations
On 28 May 2025, the Group announced that it has entered into an agreement for the intended sale of its Workwear business in France with H.I.G. Capital (the 'proposed transaction'), for which approval was granted by the European Commission on 25 July 2025.

The proposed transaction values France Workwear at a gross enterprise value of approximately €410m (c.$465m), on a cash-free, debt-free basis, including an earn-out mechanism with a maximum value of €30m (c.$34m), linked to the performance of the business in 2026. Total net cash proceeds are expected to be approximately €370m (c.$420m), subject to customary closing adjustments and the final earn-out outcome. Completion of the proposed transaction is expected to occur in Q4 2025.

Financial information relating to the discontinued operations for the period is set out below:

|                                                           |     |    Unaudited 
  6 months to 
 30 June 2025 
           $m |   Unaudited 
 6 months to 
 30 June2024 
          $m |
| Revenue                                                   |     |          168 |         159 |
| Operating expenses                                        |     |         -133 |        -131 |
| Net impairment losses on financial assets                 |     |            - |          -1 |
| Operating profit                                          |     |           35 |          27 |
| Finance cost                                              |     |           -