Last checked at 8 Feb 2010 07:00
FOR IMMEDIATE RELEASE 8 February 2010
Adalta Real Plc ("Adalta Real" or "the Company")
Business Update
The Company is pleased to announce that the implementation of the New Investing Policy, which was set out in the Circular to Shareholders dated 14 July 2009, is proceeding ahead of the Directors' original expectations.
The commercial property Agency department of Adalta Real has received higher numbers and higher values of instructions for sales, acquisitions, lettings, rent reviews and lease renewals of commercial properties than previously assumed by the Board and we now look forward to the receipt of the resultant initial and ongoing revenues for the Company.
In particular, the Board is delighted to be working closely with a major retail company through the provision of the Company's services including, but not limited to, commercial land and property acquisitions, sales and also potential development opportunities in the long term, predominantly in the South of England. The Board intends to take full advantage of the development opportunities expected to arise in the financial year commencing 1 April 2010.
Kevin Gilmore, Executive Chairman commented:
"We are delighted to have exceeded our original expectations after only five months of activity following the establishment of the New Investing Policy and we regard our connection with the major retail company, which has a clear and active policy to further expand its portfolio of retail outlets, as a remarkable achievement which bodes well for the Company's long term future".
Enquiries:
| Adalta Real Plc Kevin M Gilmore, Executive Chairman | Tel: 01295 670123 Mob: 07785 396666 |
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| Beaumont Cornish Limited Roland Cornish | Tel: 020 7628 3396 |
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