LONDON (Alliance News) - BMR Mining PLC Monday said it has surrendered its head office lease which will save the company around GBP185,000 in costs per month.
The company said the lease for its office on Derby Street in London has been surrendered to the landlord, with no further obligations from December 24, 2015.
As a result, the company has registered its new head office in Piccadilly in London.
"The board is delighted to enter into this agreement to surrender the lease of BMR's former head office in Derby Street. As a result of this the board now anticipates that BMR's normalised monthly central costs will fall, from approximately GBP250,000 in the year ended 30 June, 2014, to approximately GBP65,000 in January 2016," said Chairman Alex Borelli.
BMR shares were up 2.7% to 4.75 pence per share on Monday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
