Robinson PLC Sale of Property (0697B)
31 May 2023 - 4:00PM
UK Regulatory
TIDMRBN
RNS Number : 0697B
Robinson PLC
31 May 2023
Robinson plc
31 May 2023
SALE OF PROPERTY
Robinson plc ("Robinson", the "Company" or the "Group"; stock
code: RBN), the custom manufacturer of plastic and paperboard
packaging, is pleased to provide a property update.
The Company is pleased to announce a sale of part of the Walton
Works surplus property in Chesterfield, known as "Mill Lane" (the
"Property"). The Property has been sold to Peppermint Grove Ltd
with exchange and completion having occurred on 30 May 2023.
The majority of the Property is vacant with a small part let to
third parties. The consideration payable is GBP700,000 in cash and
these monies will be used by the Company to reduce current bank
debt. The Property currently attracts annual rental income of
GBP12,000 and the book value was GBP642,000 at 31 December
2022.
Following the sale of the Property, the Directors estimate that
the market value of the remaining surplus properties held by the
Group is approximately GBP7,400,000.
Subject to the necessary planning approvals, we would expect
further sales of surplus property in Chesterfield to be achieved in
the next 12 months. The intention of the Group remains, over time,
to realise value from the disposal of surplus properties and to
reinvest the proceeds in developing our packaging business.
Robinson plc www.robinsonpackaging.com
Helene Roberts, CEO Tel: 01246 389280
Mike Cusick, Finance Director
finnCap Limited
Ed Frisby / Seamus Fricker, Corporate Tel: 020 7220 0500
Finance
Tim Redfern / Barney Hayward, ECM
About Robinson:
Being a purpose-led business, Robinson specialises in custom
packaging with technical and value-added solutions for food and
consumer product hygiene, safety, protection, and convenience;
going above and beyond to create a sustainable future for our
people and our planet. Its main activity is in injection and blow
moulded plastic packaging and rigid paperboard luxury packaging,
operating within the food and beverage, homecare, personal care and
beauty, and luxury gift sectors. Robinson provides products and
services to major players in the fast-moving consumer goods market
including Procter & Gamble, Reckitt Benckiser, SC Johnson and
Unilever.
Headquartered in Chesterfield, UK, Robinson has plants in the
UK, Poland and Denmark. Robinson was formerly a family business
with its origins dating back to 1839, currently employing nearly
400 people. The Group also has a substantial property portfolio
with development potential.
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END
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