Property Disposal

4 Jan 2007 11:44

Caffyns PLC04 January 2007 CAFFYNS PLC 4 January 2007 PROPERTY DISPOSAL Caffyns PLC ("the Company") announces that the contract for the sale of itsvacant freehold site at East Street, Hythe, Kent to Churchill Retirement LivingLimited has now become unconditional and the consideration of £1.47 million hasbeen received. The book value of the property is £786,000 and the surplus on the sale, net ofdisposal costs, is £639,000. The proceeds will be applied in reducing the Company's borrowings. 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