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RNS Number : 0530S Sutton Harbour Group PLC 06 March 2023
6 March 2023
Sutton Harbour Group PLC
("Sutton Harbour" or the "Company")
Sale of Harbour Arch Quay Apartment
Related Party Transaction
Sutton Harbour Group plc (AIM: SUH), the AIM-quoted marine and waterfront
regeneration specialist, has exchanged on the sale of an apartment for
£435,000 in the Company's development under construction known as 'Harbour
Arch Quay' to Beinhaker Design Services Limited. The sale price was at the
full marketed asking price, in line with other apartments in Harbour Arch Quay
which have already exchanged or have been reserved at or around their marketed
asking price.
The sale of the apartment represents a related party transaction under of the
AIM Rules for Companies, as Beinhaker Design Services Limited represents 50%
of the holdings of FB Investors LLP, which holds a 72.91% holding in the
Company and is controlled by the Beinhaker family, including Corey Beinhaker
and Philip Beinhaker, each a director of the Company. The directors who are
independent of the transaction, being Graham Miller, Sean Swales and Natasha
Gadsdon, having consulted with the Company's nominated adviser, Strand Hanson,
consider that the terms of the transaction are fair and reasonable insofar as
shareholders are concerned.
For further information, please contact:
Sutton Harbour Group plc +44 (0) 1752 204186
Philip Beinhaker - Executive Chairman
Corey Beinhaker - Chief Operating Officer
Natasha Gadsdon - Finance Director
Strand Hanson Ltd +44 (0) 20 7409 3494
(Nominated and Financial Adviser and Broker)
James Dance
Richard Johnson
Notes to Editors
Sutton Harbour Group plc (SUH) is an AIM listed company specialising in marine
operations, waterfront regeneration and destination creation in Plymouth and
Southwest England.
The Company operates Sutton Harbour Marina, King Point Marina and Plymouth
Fisheries. Operational activities include mixed-use lettings, car parking and
support services to harbour users, property management and regeneration and
asset enhancement.
Sutton Harbour Group plc is committed to being the leading marine and
waterfront regeneration specialist in Southern England, and to positioning
Sutton Harbour in Plymouth as a destination of national interest.
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