ESL Eddie Stobart Logistics Plc

TIDMLDG

RNS Number : 6359R

Logistics Development Group PLC

08 November 2021

8 November 2021

Logistics Development Group plc

(the "Company" or "LDG")

Receipt of a further cash payment in respect of the disposal of GWSA

Logistics Development Group plc, the AIM investing company, announces that it has received an additional payment of GBP2.2 million in connection with the disposal of Greenwhitestar Acquisitions Limited ("GWSA"), originally announced on 1 July 2021. LDG has to date received total net cash proceeds of GBP127.5 million in respect of the disposal of GWSA, including repayment of the GBP6 million investment in the related PIK loan note.

As at the date of this announcement, LDG holds no material investment assets, is debt free and has an available cash balance of approximately GBP134.5 million (approximately 19.12 pence per share).

The Company's Investment Manager, DBAY Advisors Limited, continues to review a number of investment opportunities, and the Board and Investment Manager remain committed to generating attractive investment returns for shareholders.

For enquiries:

 
 Logistics Development Group                Via FTI Consulting 
  plc 
 FTI Consulting 
  Nick Hasell 
  Alex Le May 
  Cally Billimore                         +44 (0) 20 3727 1340 
 
   Strand Hanson Limited 
   (Financial and Nominated Adviser) 
   James Dance 
   James Spinney                          +44 (0) 02 7409 3494 
 Investec Bank plc 
  (Broker) 
  Gary Clarence 
  Harry Hargreaves                        +44 (0) 20 7597 5970 
 

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(END) Dow Jones Newswires

November 08, 2021 04:00 ET (09:00 GMT)

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