Feedback Regulatory News (FDBK)

7 Feb 2007 07:01

Feedback PLC07 February 2007 Feedback PLC7 February 2007 Feedback PLC ("Feedback" or "the Company") Update on Property Disposal The Board is pleased to announce an update on the sale of its freehold headoffice in Park Road, Crowborough, East Sussex (the "Premises"). The Directorshave been informed that full planning permission for the re-development of thePremises has been granted to Antler South East Homes Limited, with whom Feedbackexchanged conditional contracts for the sale of the Premises in March 2005. Satisfaction of the conditions under the contract is expected to occur on orabout 23 March 2007 at which time Feedback will receive an initial payment of£50,000. Feedback will vacate the premises no later than 23 December 2007 atwhich time completion will take place and then Feedback will receive a further£905,000. The net proceeds arising from the disposal of the premises are intended to beused to fund relocation of the company and to augment working capital. The Board will release a further announcement in due course. Enquiries: David Sawyer 01892 653322Feedback plc Philip Davies 020 7149 6457Charles Stanley Securities This information is provided by RNS The company news service from the London Stock Exchange