Special Dividend

RNS Number : 5391X

Fletcher King PLC

01 September 2015

 

Fletcher King plc

Special Dividend

Fletcher King plc is pleased to announce that Stratton House Investment Property Syndicate (SHIPS 14), in which its wholly owned subsidiary Fletcher King Services Limited ("the Company") is an investor, completed on Friday 28 August 2015 the sale of 145 Leadenhall Street (the "Property"). The sale realises a total return of approximately 40% per annum to investors for the period of ownership, inclusive of rental income. The Property was acquired in December 2013, and the Company invested £875,000 in SHIPS 14. The Company also acted as adviser to the Syndicate.

The Company will continue to look for suitable opportunities for SHIPS Syndicates, in which the Company would co-invest. However, the Directors consider that following the sale of the SHIPS 14 investment it is appropriate to pay a Special Dividend. Accordingly, a Special Dividend of 8p per share will be paid to shareholders on 25 September 2015 to those shareholders on the register at the close of business on 11 September 2015. This represents a total cash dividend of £736,782.

Enquiries

Fletcher King plc

David Fletcher / Peter Bailey

Tel: [phone]

Cairn Financial Advisers LLP

James Caithie / Rebecca Anderson

Tel: [phone]

 

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