REG - Braime (T.F.& J.H.) - Conditional Disposal <Origin Href="QuoteRef">BMT.L</Origin>

BraimeAnnouncement

15/07/2015 13:07

RNS Number : 3556K
Braime (T.F.& J.H.) (Hldgs) PLC
16 April 2015
T.F. & J.H. BRAIME (HOLDINGS) P.L.C.
("Braime" or the "Company")
Conditional Disposal
The Company announces that on 15 April 2015 its subsidiary, Braime Pressing Limited entered into a conditional sale agreement with Leeds Advanced Manufacturing UTC Limited("LAM") to dispose of approximately 1.18 acres of warehousing space and car park for a consideration of 855,000, plus a contribution to "associated works" of 295,000 (the "Disposal"). 
The Disposal is conditional on, inter alia, LAM obtaining all relevant planning and listed building permissions and satisfactory site investigation results.
The site represents only 25% of the Company's total site of 4.6 acres and the current warehousing facilities will be re-located by Braime to another part of the site, so there will be no change to the ongoing operations of the Company. 
The book value of the land and buildings in the proposed transaction is 25,000. 
The directors intend that the sale proceeds will be used for relocating and upgrading the existing warehouse and logistics functions which will enhance the future operating efficiency of the company.
For further information please contact: 
Nicholas Braime
0113 245 7491 
W. H. Ireland Limited 
Katy Mitchell LLB 
0113 394 6628 

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