Wt Rene Etf Regulatory News (WREN)

12 May 2008 06:00

12 May 2008 Wren Homes Group Plc ("Wren" or "the Company") (WHG/L) "Eleven 'Extra Care' Sites Acquired Under Option, Subject to Planning Permission" Wren Homes Group Plc, the AIM listed retirement home and "Extra Care" specialistdeveloper and provider of services to the independent elderly, today announcesthat it has acquired options over eleven additional sites suitable for ExtraCare Schemes, ranging from 50 to 75 Units at each scheme, for a nominalconsideration. This brings the total number of "ExtraCare" sites that Wren is interested in totwelve, including the Warlingham, Surrey site. Once planning permission has beenreceived, Wren is free to exercise its right to buy outright the eleven sites. This development follows on from Wren's earlier announcement on 28 April 2008that detailed planning permission for the Company's first 'Extra Care' housingscheme had been granted for it to develop a circa one and a half acre site inWarlingham, comprising 54, one and two bedroom units. Wren's move into this second generation of retirement living, namely "ExtraCare", is a step closer to the provision of a wider range of services to supportthe independent elderly, so that they may continue to live for longer,comfortably and secure, in their own homes. The additional sites in the South East of England for which Wren has alreadyapplied for planning consent are outlined below:- Chipstead Surrey-69 Extra Care Units Epsom-37 Extra Care Units Oxted-55 Extra Care Units Wallington-54 Extra Care Units Crowborough-52 Extra Care Units The other six sites, also in the South East and acquired under option, arelocated in: Tring, Haisham, Burpham, Kings Langley, Hilldenborough and Tonbridgeand are all Extra Care retirement housing schemes. On these sites, Wren iscarrying out the necessary work in order to apply for planning. The Companyhistorically has a success ratio on planning applications of 70% or better. Commenting, Paul Treadaway, CEO Wren Homes said: "This continued roll-out of Extra Care Schemes and our vision of delivering andleading the introduction of this new innovative model into the retirement homesector is particularly exciting and satisfying. Not only is it a sector that issignificantly underdeveloped, but it is one that offers significant growthpotential alongside good defensive qualities". ENDS Enquiries: Wren Homes Group plcPaul Treadaway, Managing Director Tel: 01372 742 244www.wrenhomesplc.co.uk Shore CapitalAlex Borrelli Tel: 020 7408 4090 Adventis Financial PRTarquin Edwards Tel: 020 7034 4758 / 07879 458 364