Acquisition of new offices

RNS Number : 7762E

Newmark Security PLC

10 May 2017

 

10 May 2017

Newmark Security PLC

("Newmark", the "Company" or the "Group")

Acquisition of new offices

Newmark Security plc (AIM: NWT), a leading provider of electronic and physical security systems, announces the acquisition of new business premises in Poole, Dorset.

The Company's electronic division Grosvenor Technology, which delivers solutions in access control and workforce management, has had a presence in Poole for over ten years but its current rented premises will not be available from this summer. The Company has therefore taken the decision to purchase a property in the area. Exchange of contracts on the property, which comprises 11,685 sq ft of office space, has taken place today and completion is expected to occur by the end of May 2017.

The property will be acquired from LINSAR UK Limited for a consideration of £1.2 million, which will be funded 30% from the Company's existing cash reserves and 70% from a bank loan, which is for an initial five-year term with repayments and interest payable from month 13 onwards and carries interest at two per cent. above the base rate.

Marie-Claire Dwek, Chief Executive Officer of Newmark said: "This property acquisition underlines our commitment to the Grosvenor Technology business and our team in Poole. We look forward to continuing to work with Grosvenor Technology's customers from our offices in Poole and our other locations."

For further information:

Newmark Security plc Marie-Claire Dwek, Chief Executive Officer Brian Beecraft, Group Finance Director	Tel: [phone] www.newmarksecurity.com
Allenby Capital Limited (Nominated Adviser and Broker) Jeremy Porter / James Reeve / Liz Kirchner	Tel: [phone]
Yellow Jersey PR Limited Felicity Winkles / Joseph Burgess / Dominic Barretto	Tel: [phone]

 

END

 

 

ACQBUGDULBBBGRG