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Pin to quick picksMpac Group Plc Regulatory News (MPAC)

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Conditional Sale - Saunderton

18 Jul 2007 07:00

Molins PLC18 July 2007 18 July 2007 FOR IMMEDIATE RELEASE MOLINS PLC Conditional Sale of Saunderton Site On 17 July 2007 Molins PLC signed a conditional contract to sell its 26 acres ofdeveloped land and buildings together with 25 acres of agricultural land atSaunderton, Bucks ("the Site"). The contract provides that on satisfaction of anumber of conditions, e-shelter facility services GmbH ("the Buyer"), willacquire the freehold interest in the Site for a consideration of £18.85m, or£18.35m if completion of the transaction is before 30 November 2007. Oncompletion, Molins will lease approximately 5,000 square metres of buildingspace on a rent-free basis for up to three years to continue its currentactivities. The contract provides that the Buyer has a period of exclusivity during which itwill seek to satisfy various practical conditions relating to the Site. Oncethese conditions have been satisfied, the consent of shareholders in generalmeeting will be sought, which is required in view of the size of the transactionrelative to Molins. The receipt by the Buyer of satisfactory planningpermission for its development scheme is also a condition to the contract. The Buyer has paid Molins £100,000 as a non-returnable deposit. Furtherdeposits may subsequently become due depending on the time taken to satisfy thepractical conditions above. The Buyer may serve one month's notice to terminatethe conditional contract at any time up to the point that all of the Buyer'sconditions, except receipt of planning permission, have been satisfied. At 31 December 2006 the book value of the assets subject to the transaction was£13.3m before deferred tax. Rental income from the Site of £0.2m was receivedby Molins in the year to 31 December 2006. The net proceeds from the sale ofthe Site, which are estimated to be approximately £16m after tax and expenses,will be used to repay debt and to fund the working capital requirements of theGroup. e-shelter facility services GmbH is a German based company, owned by InvestaImmobiliengruppe, a privately owned project development firm that has managedinvestments in excess of €3 billion since its inception. e-shelter is thelargest provider of data centre services in Germany and the intended purchase ofthe Site is part of the execution of its strategy to enter the UK market. Itsmain facility is in Frankfurt, which provides 60,000 square metres of space, andit also has sites in Berlin, Hamburg and Munich. Trading Update The trading outlook for the full year continues broadly to match theexpectations of the Board, although the slow start to the year in ScientificServices continues. Enquiries: Molins PLC Tel: 01908 219000 Peter Byrom, Chairman David Cowen, Group Finance Director Issued by: Citigate Dewe Rogerson Tel: 020 7638 9571 Margaret George This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
15th May 20247:00 amRNSAGM Statement
26th Apr 20247:35 amRNSSiSTEM pilot battery assembly line
17th Apr 20247:00 amRNSLaunch of ESG Report
9th Apr 20241:12 pmRNSGrant of Options
8th Apr 20242:15 pmRNSNotice of AGM
19th Mar 20247:00 amRNSFull Year Results
21st Feb 20247:00 amRNSEquity Development Investor Presentation
16th Feb 20247:00 amRNSNotice of Results
11th Jan 20247:00 amRNSFull Year Trading Update
4th Dec 202311:51 amRNSDirector/PDMR Shareholding
27th Nov 202311:36 amRNSDirector/PDMR Dealing
18th Oct 20232:42 pmRNSHolding(s) in Company
12th Oct 20237:00 amRNSAppointment of Joint Broker
22nd Sep 202311:19 amRNSHolding(s) in Company
7th Sep 20237:00 amRNSHalf Year Results
17th Aug 20237:00 amRNSEquity Development Investor Webinar
11th Jul 20237:00 amRNSTrading Update and Notice of Results
30th May 202310:52 amRNSDirector/PDMR Shareholding
18th May 202311:17 amRNSResult of Annual General Meeting
17th May 20237:00 amRNSAGM Statement
2nd May 20234:37 pmRNSDirector/PDMR Transaction
6th Apr 20235:30 pmRNSAvailability of Annual Report and Notice of AGM
27th Mar 202310:53 amRNSDirector/PDMR Dealing
22nd Mar 20237:01 amRNSCEO succession
22nd Mar 20237:00 amRNSFull Year Results
20th Feb 20237:00 amRNSEquity Development Investor Presentation
17th Feb 20237:00 amRNSNotice of Results
16th Jan 20237:00 amRNSFull Year Trading Update
24th Oct 20222:20 pmRNSDirectorate Appointment
14th Oct 202210:58 amRNSReplacement - PDMR Dealing & Total Voting Rights
12th Oct 20224:59 pmRNSDirector/PDMR Dealing & Total Voting Rights
15th Sep 202212:50 pmRNSMpac signs FREYR framework agreement
13th Sep 20227:00 amRNSEquity Development Investor Presentation
9th Sep 20222:16 pmRNSDirector/PDMR Transaction
8th Sep 20227:00 amRNSHalf Year Result
11th Jul 20227:00 amRNSTrading Update and Notice of Results
24th Jun 20222:54 pmRNSAppointment of new auditor
10th Jun 20224:10 pmRNSGrant of Options
27th May 20222:56 pmRNSDirectors/PDMRs Dealing
25th May 20224:13 pmRNSHolding(s) in Company
19th May 20223:57 pmRNSEBT Subscription & Total Voting Rights
13th May 20224:25 pmRNSDirectors/PDMRs Dealing - Replacement
12th May 20224:46 pmRNSDirectors/PDMRs Dealing
4th May 20224:16 pmRNSResult of AGM
4th May 20227:00 amRNSAGM Statement
17th Mar 20227:00 amRNSFull Year Results
14th Feb 20224:38 pmRNSNotice of Results
12th Jan 20227:00 amRNSFull Year Trading Update
21st Oct 20215:16 pmRNSDirectorate Appointment
2nd Sep 20217:00 amRNSHalf Year Results

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