Disposal

19 Nov 2007 12:46

Caffyns PLC19 November 2007 PROPERTY DISPOSAL Caffyns PLC ("the Company") announces that it has today exchanged conditionalcontracts for the sale of its vacant freehold site in East Grinstead, Sussexwith Alburn (Minos) Limited ("Alburn"). The consideration of £3.075m is payablein cash two weeks following the granting of an acceptable planning permission.The net book value of the property is £656,000. Alburn is required to submit adetailed planning application by 21 December 2007. A further announcement will be made when appropriate. Upon completion being fulfilled, the proceeds will be applied in reducing the Company's borrowings. 19 November 2007 Enquiries: Simon CaffynChief Executive Mark HarrisonFinance Director Telephone: 01323 730201 This information is provided by RNS The company news service from the London Stock Exchange