Wynnstay Properties PLC AGM Trading Update (6966F)
16 Julio 2019 - 5:30AM
UK Regulatory
TIDMWSP
RNS Number : 6966F
Wynnstay Properties PLC
16 July 2019
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
WYNNSTAY PROPERTIES PLC
("Wynnstay" or the "Company")
AGM Trading Update
16 July 2019
By way of update to the Annual Report and Financial Statements
dated 12 June 2019, Philip Collins, the Chairman of the Company,
will make the following announcements to shareholders at its Annual
General Meeting today:
Sale of Basingstoke Property:
Following negotiations under the previously announced lease and
option to purchase arrangement with its tenant, Bolling Investments
Limited, a subsidiary of Lookers plc, in relation to Units 1, 2 and
3 Crockford Lane, Basingstoke ("the Property"), the Company has
today completed the sale of the Property for GBP1,775,000 in cash.
For the year ended 25 March 2019, the Property generated net rental
income of GBP82,000. The net sale proceeds, after costs, of
GBP1,752,000 will realise a pre-tax profit of GBP352,000 over net
book value of GBP1,400,000, which will be reflected in the accounts
for the current year to 25 March 2020. The sale proceeds will be
held as working capital pending reinvestment.
For further information please contact:
Wynnstay Properties Plc:
Toby Parker, Finance Director 020 7554 8766
Panmure Gordon (UK) Limited (Nominated Adviser and Broker):
Alina Vaskina / Ryan Lever
020 7886 2500
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END
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July 16, 2019 06:30 ET (10:30 GMT)
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