Related Party Transactions

RNS Number : 7881T

Helical Bar PLC

08 October 2014

 



8 October 2014

Helical Bar plc ("Helical Bar" or the "Company")

Related Party Transactions

Property purchases by Directors' and a connected party

Helical Bar announces, in accordance with paragraph 11.1.10 of the UK Listing Rules, that Gerald Kaye, Development Director, and Nigel McNair Scott, Chairman, have exchanged on the purchase of apartments at Barts Square, London, EC1A, the Company's mixed use development, at prices of £1,575,000 and £1,625,000, respectively. In addition, Nigel McNair Scott's son has exchanged on the purchase of an apartment in Barts Square at a price of £1,600,000.

The purchases were conducted at fair and reasonable market prices based on independent valuations and are in line with the marketed prices of the apartments and similar comparable transactions at that time.

Barts Square is a new 3.2 acre mixed use urban quarter, which Helical Bar is developing in joint venture with The Baupost Group. The residential element of the scheme was launched in the UK on 3 September 2014.

For further information please contact:

Helical Bar plc Tim Murphy (Finance Director)	Tel: [phone]
FTI Consulting Stephanie Highett/Dido Laurimore/Nina Legge	Tel: [phone]

 

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