Anite Group PLC
10 August 2004
For immediate release Tuesday, 10 August 2004
Anite Group plc
Acquisition of freehold property
Anite Group plc ('Anite' or 'the Group'), the worldwide IT solutions and
services company, today announces that it has recently exchanged contracts on
the purchase of a freehold property in Fleet, Hampshire, with the intention of
consolidating the activities of its Telecoms division into this one site.
The total cost of the property, including fit out, is expected to be in the
region of £5 million, to be financed from Anite's existing cash resources.
Completion is anticipated to take place by the end of October, with occupation
by the end of the current financial year. This consolidation is expected to
provide both long-term property cost savings and efficiencies as well as
benefits to the management and operation of the Telecoms business.
As part of the transaction, which involves staff being moved from the existing
four sites currently occupied in and around Fleet, the vendor is acquiring an
onerous lease on one of the existing sites, enabling Anite to exit this
commitment, the costs of which have already been provided for.
Commenting on the property acquisition, Steve Rowley, Anite's Chief Executive,
stated:
'This transaction represents further progress with respect to the resolution of
legacy issues, such as surplus property, which has been a key part of our
consolidation, integration and cost cutting activity. This new site for Anite's
Telecoms business is expected to benefit the management and operation of the
business.'
- Ends -
For further information, please contact: www.anite.com
Anite Group plc 01753 804000
Steve Rowley, Chief Executive
Christopher Humphrey, Group Finance Director
Smithfield 020 7360 4900
Reg Hoare/Tehsin Nayani
This information is provided by RNS
The company news service from the London Stock Exchange
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