REG - Conygar Investmnt Co - Sale of Holyhead Waterfront and Parc Cybi

Conygar Investment CoAnnouncement

24/03/2025 07:00

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RNS Number : 7557B  Conygar Investment Company PLC(The)  24 March 2025

 

 

 24 March 2025

THE CONYGAR INVESTMENT COMPANY PLC

Sale of Holyhead Waterfront and Parc Cybi

 

The Conygar Investment Company PLC ("Conygar" or the "Group"), the property
investment and development group, announces that it has unconditionally
exchanged contracts to sell its development land and adjoining seabed at
Holyhead Waterfront ("Holyhead") in addition to its land at Parc Cybi, both in
Anglesey, to Stena Line Ports Limited ("Stena"). Completion is contracted to
occur on 28 March 2025.

The net proceeds of £6.60 million after sale costs will be utilised partly to
repay £3.0 million of the Barclays development loan, provided in connection
with the Winfield Court student accommodation at The Island Quarter in
Nottingham. The balance will be utilised to support the ongoing operations of
the Group.

The Group will realise a profit this year from the transaction of £6.22
million. The land cost of Parc Cybi is £0.38 million and that of Holyhead is
£nil having been written down by £5 million in 2023.

Robert Ware, Chief Executive of Conygar, commented:

"We are delighted to have completed the sale of these assets to Stena who, in
addition to operating the ferry port, are themselves instrumental in the
ongoing development of Prosperity Park and the wider freeport throughout
Anglesey."

 

The information contained within this announcement is deemed by the Group to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018.

 

Enquiries:

The Conygar Investment Company PLC

Robert Ware, Freddie Jones: 020 7258 8670

Panmure Liberum Limited (nominated adviser and broker)

Chris Clarke, Jamie Richards: 020 3100 2000

Temple Bar Advisory (public relations)

Alex Child-Villiers: 07795 425580

Sam Livingstone: 07769 655437

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