INS.L Regulatory News (INS)

21 Apr 2005 15:36

Infast Group PLC21 April 2005 SALE OF PROPERTY Infast Group plc (the "Company") is pleased to announce that, as part of theCompany's strategic exit from manufacturing, it has today exchanged contracts onthe sale of a property in Birmingham, which was previously occupied by GKSCentrepiece until its disposal in October 2004, for a net cash consideration of£1.5 million. Completion is expected to take place on 3 May 2005. The proceeds, which are equivalent to the property's net book value, will beused to reduce the Company's debt. Graham Titcombe, Chairman of Infast, said: "This property sale is one of thefinal steps in our exit from manufacturing. The Group is now streamlined andready to move forward as a focused Inventory Management Services operation." For further information, please contact Infast Group plc Tel: 01452 880 500Robert Sternick, Chief ExecutiveJohn Kimber, Finance Director Rawlings Financial PR Limited Tel: 01756 770 376John RawlingsCatriona Valentine This information is provided by RNS The company news service from the London Stock Exchange