Last checked at 1 Nov 2011 13:23
For immediate release 1 November 2011
Worthington Group Plc ("Worthington", "the Company" or "the Group")
Update on Planning Application
On the 25th July we advised the market that we had submitted an outline planning application for a substantial development on our site at Keighley and subsequently, in the annual report, indicated that we hoped to receive a reply within 12 weeks. Being aware that that period has now passed, the board consider it is appropriate to update the market on our current position.
Since the application was submitted there have been many conversations and meetings with the planners and other interested parties concerning the proposal and we are pleased to report that we continue to receive both planning and political support for the project. We had hoped that we would receive an acceptance to our application with requests for other information to follow but we have now been advised that we must submit some additional information before the application can be considered further. Our advisers assure us that this is perfectly normal for a scheme of this size and we should not be concerned. Our architects immediately submitted the additional information that was available and they together with our other advisers are working to establish exactly what else is required to enable the application to proceed.
We remain confident as to the final outcome but have to accept that the development is extremely significant not only for Worthington but also for the local area and we must work within the system to achieve the permissions we require. We will update the market once there is additional information and although we now have to expect some delay, we will use this time to progress our discussions with potential joint venture and financing partners as best we can without the application having been approved.
Enquiries:
Anne Alesbury, PD Cosec Limited, Company Secretary, 020 8940 0963
Roland Cornish, Beaumont Cornish 020 7628 3396
Website: www.worthingtongroupplc.co.uk