CIC Conygar Investment Company Plc (the)

TIDMCIC

RNS Number : 7067H

Conygar Investment Company PLC(The)

19 August 2016

19 August 2016

THE CONYGAR INVESTMENT COMPANY PLC

DETAILED PLANNING CONSENT GRANTED FOR CROSS HANDS RETAIL PARK

The Conygar Investment Company PLC ("Conygar") is pleased to announce that it has been granted detailed planning permission by Carmarthenshire County Council for its 9.96 acre development site in Cross Hands, South West Wales.

The fully serviced site was acquired from Sainsbury's in October 2015, with consent for a 90,000 sq ft store and the revised application was submitted in April 2016.

The granted planning consent is for a 106,000 sq ft retail development which will include a mixture of convenience and comparison goods outlets, together with a 562 space car park, 3 food outlets/restaurants and a public house.

The planned development will create the equivalent of 260 full time jobs and over 100 during the construction phase, which Conygar wish to be sourced locally.

Now that consent has been received, construction should commence later in the year and will be funded from Conygar's existing cash resources.

Robert Ware, CEO said: "We are pleased that the plans to develop this retail park have been approved and we will work hard to ensure that construction begins as soon as possible and we can bring the project to fruition. We expect that the development will support and benefit Cross Hands, by creating jobs during the construction phase and also further employment opportunities through the attractive new retail outlets that will be created".

Enquiries:

The Conygar Investment Company PLC

Robert Ware / Ross McCaskill: 020 7258 8670

Liberum Capital Limited (Nominated Adviser and Broker)

Richard Bootle: 020 3100 2222

Temple Bar Advisory (Public Relations)

Alex Child-Villiers: 07795 425580

This information is provided by RNS

The company news service from the London Stock Exchange

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