Notification of results

RNS Number : 6855S
Lok'n Store Group PLC
15 September 2010
 



15 September 2010

 

 

Lok'nStore Group plc

 

("Lok'nStore" or the "Company")

 

Notification of results

 

Lok'nStore Group plc, the AIM listed self-storage company, will be announcing preliminary results for the year ended 31 July 2010 on Monday 18th October 2010, not on Monday 8th November 2010, as was previously disclosed.

 

- Ends -

 

 

Enquiries

 

Lok'nStore Group plc

01252 521010

Andrew Jacobs, Chief Executive

Ray Davies, Finance Director

 


Arbuthnot

020 7012 2000

Nick Tulloch

Ben Wells

 


Financial Dynamics

020 7831 3113

Billy Clegg

Edward Westropp


 

 

 

Notes to Editors

 

Lok'nStore runs a high quality portfolio of 22 self-storage centres across the South East of England.  All stores carry the distinctive bright orange and silver livery and are located in prominent locations adjacent to main roads and town centres. Total space available is 1.2 million sq ft, of which 64% is freehold and 36% leasehold. Lok'nStore has a pipeline of 2 new sites and 2 replacement sites, all of which have planning permissions.

 

As at 31st January 2010, adjusted net asset value was £2.10 per share with a loan-to-value ratio of 30.9% on £25m of net debt. Lok'nStore has a £40m facility with RBS which runs until 2012.

 

The UK self-storage market remains under-supplied with only 0.4 sq ft per person versus around 7 sq ft per person in the more mature US market. The UK market has been growing at 10-15% per annum for the last 10 years. (Source: The Self-Storage Association).

 

 


This information is provided by RNS
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