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13 Jun 2011 15:21
Caffyns plc
PROPERTY DISPOSAL UPDATE
On 22 March 2011 Caffyns plc ("the Company") announced that it had exchanged contracts with Shell Trust (UK Property) Limited ("Shell") for the sale of its vacant freehold site at Preston Road, Brighton conditional upon a lease being granted by the Company to Sainsbury's Supermarkets Limited ("Sainsbury's") by 20 June 2011 (the "Condition").
On 28 April 2011 the Company announced that the planning application had been refused by Brighton and Hove City Council ("the Council"), and that it would therefore not be possible to grant a lease to Sainsbury's by 20 June 2011.
The Company announces that the date for satisfying the Condition has now been extended to 30 September 2011 pending a potential appeal of the Council's decision by Sainsbury's.
13 June 2011
Enquiries:
Simon Caffyn
Chief Executive
Mark Harrison
Finance Director
Telephone: 01323 730201
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