REG - Logistics Dev Grp - Receipt of further cash payment

Logistics DevelopmentAnnouncement

08/11/2021 09:00

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RNS Number : 6359R  Logistics Development Group PLC  08 November 2021

8 November 2021

 

Logistics Development Group plc

 

(the "Company" or "LDG")

 

Receipt of a further cash payment in respect of the disposal of GWSA

 

Logistics Development Group plc, the AIM investing company, announces that it
has received an additional payment of £2.2 million in connection with the
disposal of Greenwhitestar Acquisitions Limited ("GWSA"), originally announced
on 1 July 2021. LDG has to date received total net cash proceeds of £127.5
million in respect of the disposal of GWSA, including repayment of the £6
million investment in the related PIK loan note.

 

As at the date of this announcement, LDG holds no material investment assets,
is debt free and has an available cash balance of approximately £134.5
million (approximately 19.12 pence per share).

 

The Company's Investment Manager, DBAY Advisors Limited, continues to review a
number of investment opportunities, and the Board and Investment Manager
remain committed to generating attractive investment returns for shareholders.

 

 

For enquiries:

 

 Logistics Development Group plc     Via FTI Consulting

 FTI Consulting                      +44 (0) 20 3727 1340

 Nick Hasell

 Alex Le May

 Cally Billimore

 Strand Hanson Limited               +44 (0) 02 7409 3494

 (Financial and Nominated Adviser)

 James Dance

 James Spinney

 Investec Bank plc                   +44 (0) 20 7597 5970

 (Broker)

 Gary Clarence

 Harry Hargreaves

 

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