Update on Proposed Second Acquisition

RNS Number : 3871E

Dukemount Capital PLC

09 February 2018

 

9 February 2018

Dukemount Capital Plc

("Dukemount" or the "Company")

Update on Proposed Second Acquisition

Dukemount Capital plc, the property management and long dated income provider announced in October that due diligence on the second acquisition in North West England had been completed and that a four-month option to buy had been signed while it concluded discussions with housing associations.

The board are in advanced talks with one housing association and to facilitate the conclusion of these talks in an efficient manner we have been granted an extension of the option by the vendor for a further two-month period.

Dukemount Executive Chairman Geoffrey Dart said, "While we anticipate that these talks with the housing association will be concluded soon, the end of the original option is approaching. We felt it prudent to get an extension to the option-to-buy agreement with the vendor while we work out a deal which works for Dukemount and the housing association.  The next stage in the process is to present to the housing association, the plans for the refurbishment of the building in order to reach an agreement on the specific requirements for their tenants.

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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