REG-Panther Securities: Trading update

Panther SecuritiesAnnouncement

19/03/2018 14:17

7 March 2018

Prior to publication, the information contained within this announcement was
deemed by the Company to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of
this announcement, this information is now considered to be in the public
domain.

Panther Securities PLC

(the “Company” or the “Group”)

Trading update

The Board of Panther Securities PLC is pleased to announce that, based on
preliminary unaudited information, it expects the profit after taxation for
the year ended 31 December 2017 to be of the order of £20 million, which has
arisen as a result of the following principal factors:
* The Directors sought an independent revaluation of the Group’s entire
portfolio at 31 December 2017 which will likely result in an increase in
valuation at 31 December 2017 of approximately £16 million;
* The Group’s interest rate swaps liability at 31 December 2017 showed a
positive movement of approximately £2 million over the financial year;
* The Board expects to report a profit of approximately £1 million on the
sale of a number of investment properties.  In addition, the sale of most of
our investment shares produced a profit of over £1 million; and
* Rental income has held up very well in a tough environment for retailers.
The above expected Group profit after taxation in the order of £20 million
does not include any additional profit that would arise on the completion of
the sale of Holloway Head, Birmingham.  On 30 November 2017, the Company
announced that the contract had been extended, with the purchaser seeking to
complete at the beginning of March 2018.  The purchaser was not in a position
to complete and has been granted a further extension of five weeks, at a cost
of £40,000 per week.  In the event that completion takes place before the
accounts for the year ended 31 December 2017 are signed, under the accounting
standards, an additional profit after taxation of £3.8 million would be
achieved as part of the results for the year ended 31 December 2017. 

The Board expect to announce the audited results for the year ended 31
December 2017 in late April 2018.

For further information:

                                                                       
 Panther Securities plc:                            Tel: 01707 667 300 
 Andrew Perloff/ Simon Peters                                          
                                                                       
 Allenby Capital Limited (Nomad and Joint Broker)   Tel: 020 3328 5656 
 David Worlidge/ Alex Brearley                                         



Copyright (c) 2018 PR Newswire Association,LLC. All Rights Reserved