Newmark Security PLC Acquisition of new offices (7762E)
11 May 2017 - 1:17AM
UK Regulatory
TIDMNWT
RNS Number : 7762E
Newmark Security PLC
10 May 2017
10 May 2017
Newmark Security PLC
("Newmark", the "Company" or the "Group")
Acquisition of new offices
Newmark Security plc (AIM: NWT), a leading provider of
electronic and physical security systems, announces the acquisition
of new business premises in Poole, Dorset.
The Company's electronic division Grosvenor Technology, which
delivers solutions in access control and workforce management, has
had a presence in Poole for over ten years but its current rented
premises will not be available from this summer. The Company has
therefore taken the decision to purchase a property in the area.
Exchange of contracts on the property, which comprises 11,685 sq ft
of office space, has taken place today and completion is expected
to occur by the end of May 2017.
The property will be acquired from LINSAR UK Limited for a
consideration of GBP1.2 million, which will be funded 30% from the
Company's existing cash reserves and 70% from a bank loan, which is
for an initial five-year term with repayments and interest payable
from month 13 onwards and carries interest at two per cent. above
the base rate.
Marie-Claire Dwek, Chief Executive Officer of Newmark said:
"This property acquisition underlines our commitment to the
Grosvenor Technology business and our team in Poole. We look
forward to continuing to work with Grosvenor Technology's customers
from our offices in Poole and our other locations."
For further information:
Newmark Security plc Tel: +44 (0)
Marie-Claire Dwek, Chief Executive 20 7355 0070
Officer www.newmarksecurity.com
Brian Beecraft, Group Finance
Director
Allenby Capital Limited Tel: +44 (0)
(Nominated Adviser and Broker) 20 3328 5656
Jeremy Porter / James Reeve /
Liz Kirchner
Yellow Jersey PR Limited Tel: +44 (0)
Felicity Winkles / Joseph Burgess 7768 537 739
/ Dominic Barretto
This information is provided by RNS
The company news service from the London Stock Exchange
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