Information  X 
Enter a valid email address

Probus Estates PLC (PBE)

  Print      Mail a friend

Monday 10 April, 2006

Probus Estates PLC

Sale of Santa Ponsa

Probus Estates PLC
10 April 2006

                               PROBUS ESTATES PLC

                              SALE OF SANTA PONSA

The Directors of Probus Estates PLC (the 'Company', the 'Group' or 'Probus')
announce that Probus has signed a contract with Mar Feli S.L. in relation to the
sale of the Company's subsidiary, Lendon S.L., which owns a retail and
residential development at Santa Ponsa, Mallorca.  As previously reported, most
of the units in the development have been sold, and the remaining units are the
less attractive ones and so only saleable at a discounted price.  The sale price
is €500,001 and the sale proceeds will be paid over to Uni-Invest Holding B.V.,
the major creditor of the Company.  The buyer will take over the mortgage and
other liabilities of Lendon S.L.  The net book value of Lendon S.L. included in
the Group's interim accounts for the six months ended 30 June 2005 was €2.2
million.  The sale is expected to be completed shortly.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                              

a d v e r t i s e m e n t