Joint Venture With Rascasse Developments

RNS Number : 4935Z

Dukemount Capital PLC

03 September 2018

 

03 September 2018

Dukemount Capital Plc

("Dukemount" or the "Company")

Joint Venture with Rascasse Developments Ltd

Dukemount Capital plc, the long-dated income provider and property management company is pleased to announce that it has entered into a 50/50 joint venture with Rascasse Developments Ltd to create DKE (Midlands)Ltd

The joint venture company will be owned equally between Dukemount Capital Plc and Rascasse Developments Ltd (Rascasse) and has been set up to facilitate expansion of the property portfolio. The directors of the joint venture are Lynn Waldron, Darryl Eales, Geoffrey Dart and Alfred Long. Rascasse has substantial experience in developing property within the Midlands. Dukemount brings its experience and knowledge of the supported living sector as well as institutions wishing to enter this important sector for their long-term income needs.

Dukemount Executive Chairman Geoffrey Dart said, "Lynn and Darryl bring a wealth of development expertise in the Midlands property sector where there is a lot of opportunity for Dukemount. Alfred has been working with Dukemount for some time and has been instrumental in the creation of this joint venture. Progress continues on the first 2 projects and updates will be made when appropriate".

Market Abuse Regulation (MAR) disclosure

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

 For further information, please contact:

Dukemount Capital Plc	Tel: [phone]
Timothy Le Druillenec
Walbrook PR (Media and Investor Enquiries	Tel: [phone]
Paul Cornelius / Gary Middleton	[e-mail]
Optiva Securities Ltd	Tel: [phone]
Christian Dennis - Corporate Broker
Jeremy King - Corporate Broker
Peterhouse Corporate Finance Limited	Tel: [phone]
Lucy Williams/Duncan Vasey

 

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