Disposal

RNS Number:4303T
Stoddard International PLC
18 December 2003

Stoddard International PLC

18 December 2003



Outline Planning Consent Granted For Greenfield Land At Elderslie





On 11 December 2003 the board announced the proposed disposal for #7 million of
a twenty-two acre site comprising the majority of its Elderslie property.  This
disposal is conditional only on the approval of Stoddard shareholders which will
be sought at an Extraordinary General Meeting, convened for 29 December 2003.
This disposal excluded an adjoining eight-acre site ("Greenfield Land") as a
result of Renfrewshire Council's decision to refuse outline planning consent.
The company appealed this decision.



The board is now pleased to announce that this appeal has been successful and
that outline planning consent for residential use has been granted.  The board
will immediately seek to market the Greenfield Land and believes that the
aggregate proceeds for the entire thirty-acre Elderslie site are likely to be at
the upper end of the originally predicted range of #7 million to #10 million.



It is likely, given the size of any disposal of the Greenfield Land, that the
company will be required to seek the approval of Stoddard shareholders.
Shareholders will be notified in due course once the board is in a position to
put a final proposal forward for consideration.







Further information:



Alan Lawson, Chief Executive 01563 578000






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