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Share Name | Share Symbol | Market | Type |
---|---|---|---|
First Mercury Financial Corp | NYSE:FMR | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 16.50 | 0.00 | 01:00:00 |
RNS Number:7802T Fulmar PLC 02 January 2004 2 January 2004 FULMAR plc Property Sale / Trading Statement Fulmar plc ("Fulmar"), the South London-based commercial and book printer, announces that it has exchanged contracts for the sale of a property in Lewes, East Sussex and anticipates its 2003 results. Property Sale Fulmar has exchanged contracts for the sale of its vacant freehold property at Lewes for residential development. These premises were previously occupied by WE Baxter prior to its rationalisation and relocation to Mitcham, South London in May 2002. The initial consideration of #1.6m in cash will be applied to the reduction of borrowings, and will be tax-free due to accumulated capital losses. Further cash consideration may comprise a minimum of #0.8m on receipt of satisfactory planning consent and an entitlement to 35 per cent. of the gross sale proceeds for the developed property above #10.2m, subject to a maximum total consideration to Fulmar of #4.0m. The book value of the property is #0.6m. In the event that a satisfactory planning consent is not achieved, Fulmar has the option to repurchase the property. Trading Statement The Directors now believe that Fulmar's trading results for the year ending 31 December 2003 will be below market expectations, with a pre-tax profit of not less than #2.2m (before exceptionals) and #3.1m (after exceptionals), which compares with #3.0m and #1.9m respectively in 2002. This reflects a further worsening of the prevailing weak market conditions for commercial print, together with the absence of the normal seasonal upturn in book jacket and cover printing, in the fourth quarter. In the absence of unforeseen circumstances, the Directors intend to propose an unchanged final dividend per ordinary share of 3.4p, making an unchanged 5.2p for the year. Enquiries: Fulmar plc 020-8688 7500 Mike Taylor (Chief Executive) Derek Harris (Finance Director) Bankside Consultants Limited Charles Ponsonby 01993-811 717 (h) / 020-7444 4166 (w) This information is provided by RNS The company news service from the London Stock Exchange END DISUUUCWGUPCUBP
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