Nexus Infrastructure PLC Sale & Leaseback of Head Office building (0489H)
April 04 2022 - 2:00AM
UK Regulatory
TIDMNEXS
RNS Number : 0489H
Nexus Infrastructure PLC
04 April 2022
Nexus Infrastructure PLC
4 April 2022
Nexus Infrastructure plc
("Nexus" or the "Company" or the "Group")
Sale & Leaseback of Head Office building
Nexus Infrastructure plc (AIM:NEXS), a leader in enabling the
energy transition by delivering sustainable infrastructure,
announces the successful completion of a sale and leaseback
transaction of Nexus Park, the Group head office building.
Nexus Park was completed in 2021 and has been successfully
occupied by all subsidiaries of the Group during the summer of
2021. The Group has completed the sale and leaseback transaction of
the freehold of Nexus Park with Dorsel U.K. 4 Limited.
The disposal included the 4.7 acre site and the three story,
35,000 sq ft head office building that all constitutes Nexus Park.
The assets are being sold at net book value, and so a breakeven
result is being recorded, prior to disposal costs of GBP150k. The
proceeds of GBP13.5m will be used to clear existing bank debt
totalling GBP10.8m, with the balancing GBP2.7m enhancing our cash
reserves.
The Group has simultaneously entered into a 20 year lease for
Nexus Park, which will create an IFRS 16 Right of Use asset of
GBP11.3m and an associated Lease Liability of GBP11.4m.
Commenting on the transaction, Mike Morris, Chief Executive
Officer, said:
"I am pleased to have successfully completed this transaction.
The proceeds clear the bank loans associated with the development
of the property and crystalise our investment in the land. Our
balance sheet is strong and now free of borrowings, which will
support our future growth."
Enquiries:
Nexus Infrastructure plc Tel: 01376 559550
Michael Morris, Chief Executive
Officer
Alan Martin, Chief Financial
Officer
Numis Securities Limited Tel: 0207 260 1200
(Nominated Adviser & Broker)
Oliver Hardy (Nomad)
Heraclis Economides
Ben Stoop
Financial Public Relations Tel: 0203 757 4992
Camarco
Ginny Pulbrook
Rosie Driscoll
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR. The person
responsible for making this announcement is the Company
Secretary.
About Nexus
Nexus is enabling the energy transition by delivering
sustainable infrastructure. The Group's capabilities are:
Multi-Utilities - TriConnex, our multi-utilities business,
designs, installs and connects energy, water, fibre networks and
electric vehicle charging infrastructure on new residential
developments. The business offers end -- to -- end solutions with
the goal of being recognised as the UK's leading independent
provider of utility connections to new developments.
Energy Transition - eSmart Networks, the energy transition
specialists, provides public electric vehicle charging, industrial
electrification and renewable energy connections. The business was
created to respond to the UK's need for charging infrastructure as
the transition to electric vehicles gathers pace and has since
broadened its services to provide grid connection solutions and
renewable energy infrastructure.
Civil Engineering - Tamdown, our civil engineering business,
provides a range of civil engineering and infrastructure services
to the UK housebuilding and commercial sectors. Services include
earthworks, highways, substructures and basements, installing
sustainable drainage systems, as well as high-rise construction. It
has an established market-leading position having been in operation
for over 40 years.
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END
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