Caledonian Trust PLC Sale of property and update on loan arrangements (9488M)
May 03 2018 - 2:00AM
UK Regulatory
TIDMCNN
RNS Number : 9488M
Caledonian Trust PLC
03 May 2018
3 May 2018
Caledonian Trust plc
("Caledonian Trust" or the "Company")
Sale of 43B Brunstane Road South, Edinburgh
Update on Leafrealm loan arrangements
Further to recent announcements made by the Company the Board of
Caledonian Trust is pleased to confirm the sale of 43B Brunstane
Road South, Edinburgh completed on 27 April 2018 (the "Property").
The Property, a semi-detached house, had been marketed for sale by
Knight Frank from mid-November 2017 and had generated significant
interest with three offers on the Property being received in
December 2017. The Property was sold for gross proceeds of
GBP505,000 against the Property's Home Report Value of
GBP460,000.
The net proceeds from the sale of the Property provides the
Company with additional working capital and in particular will
enable the Company to re-invest further monies in certain of
Caledonian Trust's development activities.
On 6 April 2018 the Company announced that it had entered into a
loan agreement with Leafrealm Limited ("Leafrealm") whereby
Leafrealm had agreed to provide an additional loan of GBP100,000 to
the Company on the same terms and conditions as the existing loan
facility in place between the parties, details of which were
announced on 1 July 2016. As at the date of this announcement the
Company has drawn down GBP40,000 under this loan arrangement.
Following the sale of the Property the Company does not expect to
need to draw down further on this loan in the foreseeable future.
The aggregate amount that has been advanced by Leafrealm to the
Company across various loan arrangements totals GBP4,330,000 as at
the date of this announcement.
Enquiries:
Caledonian Trust plc
Douglas Lowe, Chairman and Chief Executive Officer Tel: 0131 220 0416
Mike Baynham, Finance Director Tel: 0131 220 0416
Allenby Capital Limited
(Nominated Adviser and Broker)
Nick Athanas Tel: 0203 328 5656
Alex Brearley
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISUGUGCAUPRGQP
(END) Dow Jones Newswires
May 03, 2018 02:00 ET (06:00 GMT)
Caledonian (LSE:CNN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Caledonian (LSE:CNN)
Historical Stock Chart
From Apr 2023 to Apr 2024