LONDON (Alliance News) - Real estate investment company LXB Retail Properties PLC on Wednesday said the disposal discussions which the company had previously said were in solicitors' hands have since terminated.
In June, Chairman Phil Wrigley had said that certain disposal discussions regarding unnamed assets were in solicitors' hands, and said, if these concluded satisfactorily, it would secure a surplus of approximately GBP4.0 million over the balance sheet value for the financial year to end March 31, 2016.
"Discussions have continued since that time, however the group has concluded that these will not lead to a satisfactory outcome and therefore disposal discussions have terminated," LXB Retail said on Wednesday.
LXB Retail said it continues to look to realise the value of its investment in a timely way.
Shares in LXB Retail were down 18% at 46.91 pence on Wednesday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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