Property Acquisition

RNS Number : 9217G

Character Group PLC

19 May 2011

 



Issued by Citigate Dewe Rogerson, Birmingham

Date: Thursday, 19 May 2011

Immediate Release

The Character Group plc

designers, developers and international distributors of toys, games and gifts

Property Acquisition

The Character Group plc ('Company' or the 'Group') is pleased to announce that it has acquired the entire freehold property at 80 to 88 Coombe Road, New Malden, Surrey (the "Property") for £3.0m.  The site includes the Group's head office at 86/88 Coombe Road, which the Company has leased since 1998.

The Board believes that the acquisition of the Property represents a good investment for the Group while providing the Company with the opportunity to expand its business without the disruption of moving premises.

The Property comprises a total of approximately 16,500 sq.ft. and currently produces a rental income from the space not currently utilised by the Group.

Following this transaction, the Group continues to have substantial headroom within its working capital facilities.

Enquiries:
Richard King, Chairman		Russell Cook
Kiran Shah, Group Finance Director & Joint MD	Fiona Tooley	Carl Holmes
The Character Group plc	Citigate Dewe Rogerson	Charles Stanley Securities
Tel: [phone]	Tel: [phone]	(Nominated Adviser)
www.thecharacter.com		Tel: [phone]
Ticker: AIM: CCT

 

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