Wt Rene Etf Regulatory News (WREN)

WREN EXTRA CARE GROUP PLC (AIM: WREN)

("Wren" or "the Group")

Wren Extra Care Group Plc, the AIM listed provider of retirement living, through a range of Extra Care and other services for the independent elderly

Planning Consent

Wren Extra Care Group Plc, the AIM listed provider of retirement living, through a range of Extra Care and other services for the independent elderly, announces today that detailed planning permission has been granted on a site owned by the Company (originally part of a scheme intended for use for one of Wren's much larger Extra care Schemes) for thirteen two bed roomed apartments in Chipstead, Surrey.

This planning consent would enable Wren to generate significant cash from a sale of the site alone at this stage. However, in order to optimise both profit and cash for the Company, the directors have submitted a further application on the same site for nine five-bed roomed executive houses, which if successful would materially enhance profitability and cash generation from the site and a decision on the planning and sale of the scheme will be made within approximately two months.

Commenting, Paul Treadaway, CEO of Wren Extra Care said:

"I am delighted that Wren has been granted planning consent for this exciting opportunity at Chipstead that in one stroke, effectively demonstrates and realises some of the value inherent across the Wren estate. I very much look forward to its successful outcome and the continued development of the Company"

-ENDS-

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