St. Ives PLC Statement regarding disposal of property assets (0803H)
05 June 2017 - 4:00PM
UK Regulatory
TIDMSIV
RNS Number : 0803H
St. Ives PLC
05 June 2017
This announcement contains inside information in relation to St
Ives
5 June 2017
St Ives plc
("St Ives" or the "Group")
Notification of a Class 2 Transaction
Statement regarding the disposal of property assets (DIS)
St Ives, the international marketing services group, announces
that, on 2 June 2017, it completed the disposal of a wholly-owned
property at Victoria Business Park, Roche, Cornwall ("the
Property") for the sum of GBP4.2 million, payable in cash, to
Rodenhurst Estates Limited, a property investment company ("the
Transaction").
The Property is leased to a third party tenant and contributed
GBP0.4 million per annum to operating profit. The net proceeds of
the disposal of the Property will be used to reduce the Group's Net
Debt. The net book value of the Property as at 27 January 2017 was
GBP4.9 million.
The Transaction constitutes a class 2 transaction for the
purposes of the UK Financial Conduct Authority's Listing Rules.
- Ends -
For further information contact:
St Ives plc 020 7928 8844
Matt Armitage, CEO
Brad Gray, CFO
MHP Communications 020 3128 8100
John Olsen / Giles Robinson / Gina Bell
This information is provided by RNS
The company news service from the London Stock Exchange
END
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