Energiser Invts PLC Sale of the Wellingborough residential portfolio

 
TIDMENGI 
 
24 October 2017 
 
                          Energiser Investments plc 
                        ('Energiser' or the 'Company') 
 
               Sale of the Wellingborough residential portfolio 
 
 Highlights 
 
  * Binding agreement signed for the disposal of the Wellingborough residential 
    portfolio 
  * Sale price in line with expectations at GBP2,800,000 
  * Completion and payment expected in November 2017 
 
Energiser Investments plc has signed a binding contract to sell the 20 
residential units in the Wellingborough portfolio. 
 
The sale is expected to complete and funds paid to Energiser in November 2017. 
The sale price at GBP2,800,000 is in line with expectations.  Net of associated 
bank debt this will return approximately GBP1,500,000 of cash to Energiser.  The 
funds received from the sale will be used to strengthen Energiser's balance 
sheet in preparation for the next investment. 
 
Dominic White, Chief Executive commented, "this signals the successful 
conclusion to our period of ownership of the Wellingborough residential 
portfolio.  The transaction further adds to the capital available for 
investment into new opportunities; we look forward to updating shareholders on 
progress in our self-storage strategy in due course." 
 
For further information, please visit http://www.energiserinvestments.co.uk/ or 
contact: 
 
Energiser Investments plc                           [phone] 
Dominic White, Chief Executive 
Nishith Malde, Director 
 
Cairn Financial Advisers LLP                       [phone] 
Jo Turner / Sandy Jamieson 
 
 
 
END 
 

(END) Dow Jones Newswires

October 24, 2017 02:00 ET (06:00 GMT)