Northacre PLC Receipt of Dividend and Update on the Lancasters (7107I)
05 July 2013 - 8:35PM
UK Regulatory
TIDMNTA
RNS Number : 7107I
Northacre PLC
05 July 2013
Northacre PLC
("Northacre" or the "Company")
Receipt of 5m Dividend and Update on The Lancasters
Northacre announces that it has received an interim dividend of
GBP5,000,000 from Lancaster Gate (Hyde Park) Ltd, our joint venture
with Minerva. This is the sixth interim dividend from this
development project and brings the total received to date to
GBP42.7m.
All of the apartments in the Lancasters development have now
been sold and it is our current estimate that our total profit
share (net of corporation tax) is likely to be in the region of
GBP49.8m. As noted above, we have received GBP42.7m to date in
dividends from this project, and therefore we estimate that a
further GBP7.1m will be forthcoming.
Enquiries:
Northacre PLC Tel: 020 7349 8000
Klas Nilsson (Non-Executive Chairman)
finnCap Ltd Tel: 020 7220 0500
Stuart Andrews
Henrik Persson
This information is provided by RNS
The company news service from the London Stock Exchange
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