Gresham House PLC Gresham House receives payment of £1.5 million (4348D)
April 26 2017 - 9:26AM
UK Regulatory
TIDMGHE
RNS Number : 4348D
Gresham House PLC
26 April 2017
26 April 2017
Gresham House Plc ("Gresham House" or "the Company")
(AIM: GHE)
Gresham House receives payment of GBP1.5 million from continued
realisation of legacy assets
Gresham House plc, the specialist asset manager, is pleased to
announce the receipt of GBP1.5 million of deferred proceeds from
the sale of the Newton-le-Willows site as announced on 23 September
2015.
GBP1.0 million of the deferred proceeds is in line with the
agreed repayment schedule and an additional GBP0.5 million is an
early repayment, which was triggered by the purchaser selling
properties at the Newton-le-Willows site quicker than
anticipated.
The Kleinwort Benson Bank Limited ("Kleinwort Benson") banking
facility is secured against the deferred proceeds of the sale of
Newton-le-Willows and in line with this agreement, GBP1.5 million
has been repaid to Kleinwort Benson. The Company's gross borrowing
under the facility now stands at GBP4.4 million, alongside the
gross cash position as at 31 March 2017 of GBP9.4 million.
Tony Dalwood, CEO of Gresham House said,
"This is the third early repayment from the purchaser and
demonstrates the continued move to simplify the balance sheet
through realising the legacy assets, and ahead of expectations.
This also increases our confidence regarding the active sales
process currently underway for our remaining five acres of land at
Newton-le-Willows."
Enquiries:
Gresham House plc
Anthony (Tony) Dalwood 020 3837 6270
Liberum Capital Ltd
Neil Elliot
Jill Li 020 3100 2000
Montfort Communications, greshamhouse@montfort.london
PR Adviser 0203 770 7906
Rory King
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSEDFDMFWSEEL
(END) Dow Jones Newswires
April 26, 2017 09:26 ET (13:26 GMT)
Gresham House (LSE:GHE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gresham House (LSE:GHE)
Historical Stock Chart
From Sep 2023 to Sep 2024