Last checked at 4 Apr 2019 07:00
WYNNSTAY PROPERTIES PLC
("Wynnstay" or "the Company")
Trading Update
4 April 2019
Following the Company's financial year-end on 25 March 2019 (the "Financial Year"), Wynnstay provides a trading update ahead of the announcement of its audited financial results for the Financial Year on or around 12 June 2019.
Property Valuation
Wynnstay's independent valuers have revalued the Company's investment properties as at 25 March 2019 to £35,095,000. This represents an increase of £771,000 over the book value as at 25 March 2018 (adjusted for acquisitions and disposals) and equates to approximately 28 pence per share, before tax.
Basingstoke Property
As regards the possible disposal of its Basingstoke property announced on 28 August 2018, the nine-month lease and option to purchase granted to Bolling Investments Limited (the "Tenant"), from 1 July 2018 expired on 31 March 2019 and has now been extended on the same terms for a period of six months. The Tenant applied for planning permission in December 2018 and a decision is awaited.
This announcement contains inside information for the purpose of Article 7 of the Market Abuse Regulation (EU) No. 596/2014
Enquiries:
Wynnstay Properties PLC
Toby Parker, Finance Director - 020 7554 8769
Panmure Gordon (UK) Limited, Nominated Adviser and Broker
Alina Vaskina - 020 7886 2500