SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 December 23, 2004 AVECIA GROUP plc ---------------- (Translation of Registrant's name Into English) P.O. Box 42 Hexagon House Blackley, Manchester M9 8ZS England ------------------------ (Address of Principal Executive Offices) (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F) Form 20-F [ X ] Form 40-F [ ] (Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.) Yes [ ] No [ X ] (If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-___) Enclosure: Press Release SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Avecia Group plc Date: December 23, 2004 By: Derrick Nicholson -------------------- Name: Derrick Nicholson Title: Finance Director Avecia Group plc Press Release December 23, 2004: Further to Avecia's announcement on 14th December 2004 in connection with the sale of its NeoResins business and the intention to enter into deleveraging transactions with its senior lenders and holders of its 11% Senior Notes due 2009 (the "Senior Notes"), Avecia has had preliminary discussions with its senior lenders about the provision of ongoing term loan and revolver facilities following the repayment of its current senior debt from the proceeds of sale of the NeoResins business. It is unlikely that such discussions will be concluded prior to the commencement of any tender offer in respect of the Senior Notes. The terms of the existing bank credit facility require repayment in full from the proceeds of any asset sale. Any deleveraging proposal in respect of the Senior Notes is therefore likely to be on the basis that ongoing or future senior debt facilities have not been agreed or committed at the time such tender offer is announced. Media Enquiries: Andrew Smalley Public Affairs Manager, Avecia Group plc Tel: +44 (0)161 721 2441 Mob: +44 (0)7802 773604