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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Quadnetics Grp | LSE:QDG | London | Ordinary Share | GB0007156838 | ORD 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 290.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 0725q QUADRANT GROUP PLC 13th October 1997 Quadrant Group Plc ("Quadrant'') (The Precision Engineering and Electronic Systems Group) SALE OF FREEHOLD PROPERTY IN HAINAULT Quadrant has reached agreement to sell its freehold property in Fowler Road, Hainault, Essex to Mirravale Properties Limited for a consideration of #1,085,000. The sale proceeds, which are payable in cash, will be used to reduce the financial gearing of the Group. The property, which has a current book value of #1,190,000, is occupied by Quadrant's former subsidiary, Yewlands Engineering Co. Limited ("Yewlands") at an annual rent of #150,000. Under the terms of the sale agreement Quadrant will also retain the right to receive rent for the period to July 1998, to include coverage of a rent free period granted to Yewlands when the company was sold earlier this year. Commenting on the disposal, Mr David Coghlan, Chief Executive of Quadrant, said: "This is another step in the process of financial and operational restructuring of Quadrant that has taken place over the past year, involving the disposal of the Photographics and UK Precision Engineering subsidiaries and the subscription of significant new equity. This further reduction in borrowing leaves the Group better placed to exploit the excellent growth opportunities in its core businesses." For further information contact: David Coghlan (Chief Executive) 01527 850080 Brian Coleman-Smlth (Binns & Co. Public Relations) 0171 786 9600 END DISBIBBGRGBCCRG
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