TIDMPDG 
 
Pendragon PLC 
                         ("Pendragon or the "Company") 
 
    Sale and Leaseback by Pendragon of Property at Porsche Centre Stockport 
 
                     Notification of Class 2 Transaction 
 
The Company is pleased to announce that, in accordance with its plan for its 
motor vehicle dealership in Stockport (the "Property"), the Company has 
 entered into a sale and leaseback agreement over the Property with Al Mana 
Property International Limited ("Al Mana"), a special purpose vehicle forming 
part of the Al Mana Group of Companies, for the purposes of property investment 
(the "Transaction"). 
 
Under the terms of the Transaction, Pendragon has received GBP10.5 million in 
cash, while retaining the use of the Property under a 15 year lease.  The 
proceeds from the Transaction will be used for general corporate purposes. 
 
Pendragon Sabre Limited, the Company's wholly owned subsidiary, has security of 
tenure as the tenant, with Pendragon acting as the lease guarantor under the 
terms of the Transaction. The Transaction is in line with the Company's 
ambition to focus its resources on generating returns through its motor 
businesses whilst ensuring the Property remains available to Pendragon. The 
lease carries a market rent of GBP665,000 per annum.    As at the date of the 
Company's annual results for the year ended 31 December 2019, the Property 
carried a gross asset value of GBP9.8 million. 
 
Enquiries 
 
 
Henry                                                                        Headland                 0203 805 4822 
Wallers 
                                                                             Headland                 0203 805 4822 
Jack Gault 
 
 
 
END

(END) Dow Jones Newswires

May 29, 2020 04:00 ET (08:00 GMT)

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