Feedback PLC Disposal of freehold property (4769K)
30 July 2013 - 9:18PM
UK Regulatory
TIDMFDBK
RNS Number : 4769K
Feedback PLC
30 July 2013
30 July 2013
Feedback plc
("Feedback", the "Company" or the "Group")
Disposal of freehold property
The Company is pleased to announce that it has disposed of its
freehold property at Park Road, Crowborough, East Sussex TN6 2QR
(the "Property").
Principal Terms of the Disposal and Use of Proceeds
The Company has sold the Property to Orbit South Housing
Association Limited for a cash consideration of GBP940,000 together
with a further nominal sum for environmental reports related to the
Property.
The net proceeds of the disposal, amounting to GBP940,000, will
be used to extinguish all of the Company's outstanding indebtedness
of approximately GBP200,000, with the remaining balance being
retained for working capital purposes and used to make investments
in accordance with its Investing Policy.
Nick Shepheard, Executive Chairman, commented:
"I am pleased that the disposal of the Property is complete and
the Company will now focus on implementing its Investing Policy to
maximise shareholder value."
For further information contact:
Feedback plc
Nick Shepheard Tel: 020 3289
7747
Sanlam Securities UK Limited (Nominated Adviser and Broker)
Simon Clements/Lindsay Mair Tel: 020 7628
2200
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISURAAROWABOAR
Feedback (LSE:FDBK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Feedback (LSE:FDBK)
Historical Stock Chart
From Jul 2023 to Jul 2024