REG - Airea PLC - Divestment of Investment Property

AireaAnnouncement

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RNS Number : 4729B  Airea PLC  30 September 2025

 

30 September 2025

AIREA plc

 

("AIREA", the "Group" or the "Company")

 

Divestment of Investment Property

 

AIREA plc (AIM: AIEA), the UK design-led specialist flooring company,
supplying both the UK and international markets, announces that it has today
exchanged contracts on the disposal of its investment property in Bury,
Greater Manchester (the "Investment Property"), to M&T Investments Group
Limited for a total cash consideration of £4,175,000 (the "Disposal"). Legal
completion of the Disposal is expected to take place on 3 October 2025.

 

The total consideration includes a rent-free period of one month amounting to
£28,750. Deducting this from the total consideration gives a net
consideration of £4,146,250 which is similar to the carrying value of the
property on the balance sheet as at 31 December 2024 of £4,100,000.

 

In the year ended 31 December 2024, the Investment Property generated a rental
income of £345,000.

 

The proceeds from the Disposal will be applied to the repayment of all bank
debt, thereby strengthening the Group's cash position considerably. This will
in turn provide the Group with additional financial flexibility during a
period of significant investment ahead of the expected future growth of the
Group.

 

- Ends -

 

For further information please contact:

 

 AIREA plc                                   Tel: +44 (0) 192 426 6561

 Médéric Payne, Chief Executive Officer

 Conleth Campbell, Chief Financial Officer
 Singer Capital Markets                      Tel: +44 (0) 20 7496 3000

(Nominated Adviser and Sole Broker)

 Peter Steel / Sam Butcher
 Northstar Communications                    Tel: +44 (0) 113 730 3896

(Financial Media and PR)

 Sarah Hollins
 This announcement contains inside information for the purposes of Article 7 of
 the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
 by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the
 publication of this announcement via the Regulatory Information Service, this
 inside information is now considered to be in the public domain.

Notes to Editors

 

AIREA plc is a UK design-led specialist flooring company, supplying both UK
and international markets.  Since 2007, the Group has been focused solely on
floor coverings and enjoys a strong and growing brand position within the
commercial flooring market.

 

The Group's core brand Burmatex® is one of the UK's leading designers and
manufacturers of commercial carpet tiles and planks. Burmatex® focuses on the
design and creation of sustainable innovative flooring solutions to meet the
needs of architects, specifiers and contractors with a continuously developing
range to suit the education, leisure, commercial, hospitality and public
sectors. The brand was acquired by AIREA in 1984.

 

The Group was admitted to trading on AIM of the London Stock Exchange on 12
December 2007.

 

For further information, please visit: https://aireaplc.com/
(https://aireaplc.com/) .

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