CHARTER plc Disposal of freehold property in the Netherlands
10/10/2003
The Board of Charter plc announces that contracts have been exchanged for the sale of a subsidiary’s freehold property located in the Netherlands to Messrs van Heezik. The net sale proceeds of € 9.3 million are receivable in cash on completion, which is expected within days. The proceeds will be used to reduce the group’s indebtedness.
The net book value of the property was € 8.4 million and the profit on disposal amounts to approximately € 2.2 million. The subsidiary will remain in occupation of parts of the site on a rent free basis for a period of up to three years.
Contact
Andrew Fenwick; Pamela Small, Brunswick +44 (0) 20 7404 5959