LXB Retail Properties Shares Drop As Dissolution Sanctioned By Court (ALLISS)

LONDON (Alliance News) - LXB Retail Properties PLC said Tuesday the Royal Court of Jersey has sanctioned the dissolution of the retail property investor, as well as the return of GBP2.0 million in capital to shareholders.

Shares in LXB Retail will be suspended on Thursday, and then cancelled from trading on AIM on Friday next week.

Originally, LXB has expected the return to shareholders to be GBP3.4 million, however in April the company said the return would be lower than expected.

Shares in LXB Retail Properties were 13% lower at 1.06 pence on Tuesday.