REG - LPA Group PLC - Land Sale

LPAAnnouncement

26/07/2022 11:30

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RNS Number : 7778T  LPA Group PLC  26 July 2022

LPA GROUP PLC

("LPA" or the "Group")

Land Sale

LPA Group plc, the high reliability LED lighting, electronic and
electro-mechanical system designer and manufacturer, is pleased to announce
the sale of an undeveloped plot of land owned by the Group.

Following internal review and taking account of the property market, the Board
agreed to market the plot.  A blind bid process commenced through an external
agent and a cash offer of £1.72m was accepted, and the sale has now
completed. The plot is in close proximity to the Group's Saffron Walden site
and gave rise to rental income of £7,000 pa from a communications mast which
is situated on the plot. The net proceeds are expected to be invested in the
medium to long term to support the Group's growth. The book value of the plot
at 31 March 2022 was £nil. The proceeds, net of sale costs, will be
recognised as an exceptional gain in the current year's results, with gross
sales proceeds of £1.72m.

 

 Enquires:                               www.lpa-group.com      Tel:

 LPA Group plc
 Robert B Horvath                        Chairman               01799 512844
 Paul Curtis                             CEO                    01799 512858
 Chris Buckenham                         CFO                    01799 512859

 finnCap                                 NOMAD and Broker       020 7220 0500
 Ed Frisby / Abigail Kelly / Tim Harper

 (Corporate Finance)

 Tim Redfern / Charlotte Sutcliffe

 (ECM)

_____________________________________________________________________________________

About LPA

LPA Group plc (AIM: LPA) is a market leading designer, manufacturer and
supplier of high reliability LED lighting, electronic and electro-mechanical
systems, and a distributor of engineered components.

Focused on transport (rail and aviation), defence, infrastructure and
industrial markets and supplying into hostile and challenging environments,
LPA is known for engineering solutions to improve product reliability,
reducing maintenance and life cycle costs.

The Group has three sites across the UK, selling to customers in the UK and
overseas. Two of these are design and manufacturing sites: LPA Connection
Systems - electro-mechanical systems for rail, aviation and industrial, and
LPA Lighting Systems - LED lighting and electronic systems for rail and
infrastructure. The third site is LPA Channel Electric - a value added
distributer of engineered components for rail, aerospace and defence.

With over 160 years of UK design and manufacture, and with origins in the
first ever light installed in 'Electric Avenue', Brixton; innovation is core
to LPA and to the products and services supplied to our customers worldwide.

For more information visit www.lpa-group.com (http://www.lpa-group.com) .

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU No.
596/2014) which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

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