Pendragon PLC
30 June 2006
FOR IMMEDIATE RELEASE 30 JUNE 2006
PROPERTY DISPOSAL AND TRADING UPDATE
Pendragon PLC is pleased to announce the disposal of its vacant dealership site
in Solihull. As a consequence of gaining permission for change of use, Pendragon
has been able to realise an exceptional profit on disposal of £10.0 million. The
total cash proceeds were £16.1 million and will be used to reduce borrowings.
We noted in our AGM statement at the end of April that trading across the
Pendragon Group has been in line with our expectations and this continues to be
the case. The integration of Reg Vardy is continuing in line with our plan and a
further update on this will be given along with our Interim Results which will
be announced on 7 August 2006.
For further information, please contact:
Pendragon PLC Trevor Finn, Chief Executive Tel: 01623 725114
David Forsyth, Finance Director
Finsbury Rupert Younger Tel: 0207 2513801
Patrick Allerton
This information is provided by RNS
The company news service from the London Stock Exchange
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