Annual General Meeting Statement

RNS Number : 2278J

Sutton Harbour Holdings PLC

07 September 2016

 

SUTTON HARBOUR HOLDINGS PLC

("Sutton Harbour Holdings" or "the Company")

Annual General Meeting Statement

The Chairman of Sutton Harbour Holdings plc intends to issue the following statement to shareholders attending today's AGM.

"As previously announced, the Company has engaged Rothschild to assist with a Strategic Review of the Company which could include a sale of the Company. The Strategic Review is ongoing and the Company will, of course, update shareholders on its progress when there is information to share.

Trading activities have performed steadily during the first quarter of the new financial year and highlights include the installation of energy efficient lighting in the Harbour multi-storey car park, providing better lighting levels to improve ambience, particularly through the winter months.

The Company has recently engaged with the Department for Transport regarding the Government Report on the Viability of Re-opening Plymouth City Airport. Based on these discussions we expect this report to be published in the next few months and we will update shareholders once this has been issued. The Company has made formal representations to the public consultation on the proposed Plymouth Plan, in connection with the Company's interests around Sutton Harbour, King Point Marina and Derriford (the location of the former airport site). These representations include a detailed evidence-backed challenge to the proposal to safeguard the former airport site for future aviation use, notwithstanding unsuitability on technical, environmental and economic grounds. Separate to the Government Report, an independent Government Inspector will determine whether safeguarding of the former airport site from redevelopment is sound planning policy following the Examination in Public, currently timetabled for March 2017, with the final adopted policy to be published in the Plymouth and South Devon Local Plan.

In respect of the Sutton Harbour area representations, the Company has already put forward a 'Vision for Sutton Harbour'. This Vision outlines a number of significant development opportunities around Sutton Harbour to further establish the area as a visitor destination whilst supporting the sustainability of established commercial, retail, leisure and residential uses, and promoting the continued importance of the successful Fisheries operation".

Ends

Enquiries

Sutton Harbour Holdings plc	[phone]	Jason Schofield, Chief Executive Natasha Gadsdon, Finance Director
Rothschild (Financial Adviser)	[phone]	John Byrne, Stephen Griffiths
Arden Partners (NOMAD and Broker)	[phone]	James Felix, Ben Cryer
Yellow Jersey (Financial PR)	[phone]	Philip Ranger

Notes to Editors

Sutton Harbour Holdings plc (SUH) is an AIM listed company specialising in marine operations, waterfront regeneration and destination creation in Plymouth and South West England.

The Company operates Sutton Harbour Marina, King Point Marina and Plymouth Fisheries. Operational activities include mixed use lettings, car parking and support services to harbour users, property management and regeneration and asset enhancement.

Sutton Harbour Holdings plc is committed to being the leading marine and waterfront regeneration specialist in Southern England, and to positioning Sutton Harbour in Plymouth as a destination of national interest.

 

END

 

 

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