TIDMPNS
29 October 2009
PANTHER SECURITIES PLC
("PANTHER" OR "GROUP")
TRADING UPDATE
Panther is pleased to announce two recent property disposals.
Following the announcement on 15 July 2009 concerning the acquisition of a
small group of companies from GNE Group Limited, the Group announces that it
has exchanged contracts to sell two of the five properties owned by the small
group of companies acquired. The first is a convenience store located in
Stoke-on-Trent let to United Co-operative Food Stores. The second, located in
Stockton-on-Tees, is a development of three retail units and six flats (one
sold on a long lease). The agreed sale prices show a combined GBP1,325,000, which
accounts for over 90 per cent. of the cost of acquiring the entire five
properties. The Directors of Panther are very pleased with these disposals.
It is envisaged that the remaining three sites will either be sold, or let on a
short term leases and then sold when land values improve. Panther considers
that when the remaining sites are sold or let, the entire transaction will
generate significant profits for the Company.
Each of the three remaining sites have a mixture of both residential and/or
commercial planning consent, which may be improved in due course. Full details
were set out in the announcement dated 15 July 2009.
For further information:
John Doyle 01707 667 305
Simon Peters 01707 667 304
END
|