REG - Circle Property PLC - Completion of Disposals and Directorate Changes

Circle PropertyAnnouncement

31/03/2023 09:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230331:nRSe9297Ua&default-theme=true

RNS Number : 9297U  Circle Property PLC  31 March 2023

31 March 2023

Circle Property Plc

 

("Circle" or the "Company")

 

Completion of Disposals and Directorate Changes

 

Circle Property plc (AIM: CRC), announces that further to the announcements
dated 24 January 2023 and 24 February 2023, the sales of 400 Pavilion Drive,
Northampton and Concorde Park, Maidenhead, have now completed.

 

In accordance with the Company's disposal strategy and with one asset in the
Company remaining (being 300 Pavilion Drive, Northampton), John Arnold, Chief
Executive Officer and Edward Olins, Chief Operating Officer (the
"Executives"), have been served notice by the Company in accordance with their
respective service agreements.  Notice takes effect from 31 March 2023, in
line with the Board's desire to minimise ongoing costs and to reflect the
reduced business demands upon the Executives as the Company winds down prior
to cancellation of the Company's Ordinary Shares from trading on AIM
("Cancellation").

 

Mr Arnold and Mr Olins will remain on the Board and working under their
twelve-month notice periods until such time as Cancellation takes effect and
the Company is liquidated solvently, at which point their respective service
agreements may be terminated in accordance with their terms.

 

Ian Henderson, Chairman and Jamie Hambro, Non-executive Director, have also
been served notice by the Company under their respective letters of
appointment with effect from 31 March 2023 and will remain on the Board and
serving their three-month notice periods until 30 June 2023.

 

No termination or changes have been made to Michael Farrow and Anthony Le
Brun's letters of appointment and they will remain on the Board as
Non-executive Directors being primarily responsible for overseeing corporate
matters, until such time as Cancellation takes effect and the Company is
liquidated solvently. A definitive timetable in relation to Cancellation will
be made as soon as practicable.

 

Enquiries:

 

 Circle Property Plc                      +44 (0)20 7930 8503
 John Arnold, Chief Executive Officer

 Edward Olins, Chief Operating Officer

 Cenkos Securities plc                   +44 (0)20 7397 8900
 Katy Birkin

 George Lawson

 Radnor Capital                          +44 (0)20 3897 1830

 Joshua Cryer

 Iain Daly

 Camarco                                 +44 (0)20 3757 4980
 Ginny Pulbrook

 Toby Strong

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGRGDXBUXDGXB