24 Oct 2017 07:00
Energiser Investments Plc - Sale of the Wellingborough residential portfolioEnergiser Investments Plc - Sale of the Wellingborough residential portfolio
PR Newswire
London, October 23
24 October 2017
Energiser Investments plc ('Energiser' or the 'Company')
Sale of the Wellingborough residential portfolio
Highlights
Binding agreement signed for the disposal of the Wellingborough residential portfolio Sale price in line with expectations at £2,800,000 Completion and payment expected in November 2017Energiser Investments plc has signed a binding contract to sell the 20 residential units in the Wellingborough portfolio.
The sale is expected to complete and funds paid to Energiser in November 2017. The sale price at £2,800,000 is in line with expectations. Net of associated bank debt this will return approximately £1,500,000 of cash to Energiser. The funds received from the sale will be used to strengthen Energiser’s balance sheet in preparation for the next investment.
Dominic White, Chief Executive commented, “this signals the successful conclusion to our period of ownership of the Wellingborough residential portfolio. The transaction further adds to the capital available for investment into new opportunities; we look forward to updating shareholders on progress in our self-storage strategy in due course.”
For further information, please visit http://www.energiserinvestments.co.uk/ or contact:
Energiser Investments plc +44 1494 762 450Dominic White, Chief ExecutiveNishith Malde, Director
Cairn Financial Advisers LLP +44 20 7213 0880Jo Turner / Sandy Jamieson
ENGI.L (ENGI)