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Update on Disposal Discussions

6 Jul 2016 11:00

RNS Number : 4086D
LXB Retail Properties Plc
06 July 2016
 

 

For Immediate Release

06 July 2016

 

LXB Retail Properties Plc

(the "Company" or the "Group")

 

Update on Disposal Discussions

 

LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail assets today updates the market on previously announced disposal discussions.

 

The Chairman's Statement accompanying the Interim Results for the period ended 31 March 2016 (issued on 1 June 2016) reported that certain disposal discussions were in solicitors' hands and, if concluded satisfactorily, would secure a surplus of approximately £4m over the 31 March 2016 balance sheet value. 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.

 

The Group continues to look to realise the value of its investment in a timely way under the mandate provided by shareholders on 29 February 2016. 

 

For further information please contact:

 

LXB Adviser LLP Tel: 020 7432 7900

Tim Walton, CEO

Brendan O'Grady, FD

 

J.P. Morgan Cazenove (NOMAD) Tel: 020 7742 4000

Bronson Albery / Paul Hewlett

 

Buchanan Tel: 020 7466 5000

Charles Ryland/Vicky Hayns/Patrick Hanrahan

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISRFMLTMBAMMMF
Date   Source Headline
23rd May 20197:30 amRNSSuspension - LXB Retail Properties Plc
21st May 20191:45 pmRNSDissolution Order & Dissolution Return of Capital
20th May 20195:30 pmRNSLXB Retail Properties
20th May 20194:40 pmRNSSecond Price Monitoring Extn
20th May 20194:35 pmRNSPrice Monitoring Extension
20th May 201912:07 pmRNSSecond Price Monitoring Extn
20th May 201912:02 pmRNSPrice Monitoring Extension
20th May 20197:00 amRNSTransfers and sales of remaining subsidiaries
16th May 20194:40 pmRNSSecond Price Monitoring Extn
16th May 20194:35 pmRNSPrice Monitoring Extension
10th May 20194:40 pmRNSSecond Price Monitoring Extn
10th May 20194:35 pmRNSPrice Monitoring Extension
30th Apr 20192:15 pmRNSDissolution Return of Capital update
30th Apr 201912:07 pmRNSSecond Price Monitoring Extn
30th Apr 201912:02 pmRNSPrice Monitoring Extension
29th Apr 20194:36 pmRNSPrice Monitoring Extension
23rd Apr 20194:36 pmRNSPrice Monitoring Extension
18th Apr 20194:00 pmRNSCourt Dissolution Hearing and NAV update
27th Mar 20197:00 amRNSResults of Meetings
21st Mar 20194:40 pmRNSSecond Price Monitoring Extn
21st Mar 20194:35 pmRNSPrice Monitoring Extension
4th Mar 20197:00 amRNSProposed Company Dissolution
26th Feb 20197:00 amRNSFull Year Results
20th Feb 20195:40 pmRNSReturn of Cash Announcement
19th Feb 20194:45 pmRNSFurther Return of Cash
3rd Jan 20194:35 pmRNSPrice Monitoring Extension
21st Dec 20183:30 pmRNSDisposal of Investment at Sutton
20th Dec 20185:30 pmRNSReturn of Cash Announcement
13th Dec 20187:00 amRNSPortfolio, NAV and Proposed Return of Cash Update
5th Oct 20184:30 pmRNSUpdate on Biggleswade
7th Sep 20182:30 pmRNSDisposal of Leisure Investment at Stafford
29th Aug 20185:45 pmRNSNOTIFICATION OF MAJOR HOLDINGS
17th Aug 20187:00 amRNSReturn of Cash Announcement
14th Aug 20183:30 pmRNSFurther Return of Cash
7th Aug 201810:15 amRNSUpdate on Rushden Lakes
18th Jul 20182:30 pmRNSUpdate on Disposal of Investments
4th Jul 20182:00 pmRNSPDMR Notification
3rd Jul 20185:00 pmRNSReturn of Cash Announcement
3rd Jul 20185:00 pmRNSPublication of Interim Report and Accounts
29th Jun 20187:00 amRNSInterim Results
11th Jun 20181:45 pmRNSUpdate on Return of Cash
26th Mar 20189:00 amRNSPortfolio update
16th Mar 20182:00 pmRNSCourt sanction of scheme of arrangement
27th Feb 20184:00 pmRNSResult of Annual General Meeting
27th Feb 20184:00 pmRNSResult of Court Meeting
19th Feb 201812:30 pmRNSNOTIFICATION OF MAJOR HOLDINGS
7th Feb 201810:00 amRNSClarification of blue proxy return date
5th Feb 201811:00 amRNSNotification of Major Holdings
5th Feb 20187:00 amRNSCourt Scheme, Returns of Cash & AGM
22nd Dec 20177:00 amRNSDisposals at Stafford & further lettings

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