Sale and leaseback of Land an

RNS Number : 8431Z

600 Group PLC

24 July 2008

 



24 July 2008

The 600 Group PLC

("600 Group" or the "Company")

 

Sale and leaseback of Land and Buildings

In its statement of preliminary results for the 52 week period ended 29 March 2008, released on 4 June 2008, the Company announced that it had agreed terms, subject to contract, on the sale and leaseback of its properties in Colchester and Halifax. On 15 July 2008, the Company entered into separate agreements to sell and leaseback each property from Stirling Investment Properties LLP.

                                    

The net consideration for the Colchester and Halifax properties was £0.7m and £1.1m respectively with there being a profit on disposal of £0.1m on each property. The full consideration was received by the Company in cash and will be applied, subject to agreement with the Trustee, to reduce the ongoing liability of the Company to the 600 Group Pension Fund.

Enquiries:
The 600 Group PLC	Telephone: [phone]
Andrew Dick, Group Chief Executive
Martyn Wakeman, Group Finance Director
Hudson Sandler	Telephone: [phone]
Nick Lyon
Wendy Baker
Altium	Telephone: [phone]
Ben Thorne
Tim Richardson

Notes to Editors:

The 600 Group PLC is an international group, manufacturing and marketing machine tools, machine tool accessories, lasers and other engineering products.

The Company operates from some 30 locations world-wide and sell its products around the world. Its international marketing and distribution network handles both Group products and those of other manufacturers.

Website: www.600group.com

 

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