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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bartercard | LSE:BRTR | London | Ordinary Share | GB0033432856 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8938M Bartercard plc 29 November 2006 Bartercard PLC "Bartercard" Sale of Australian HQ Bartercard has raised capital by realising a profit on sale of its Australian property asset valued at only A$3.55 million in the group's accounts. Further to the announcement of 30 October, the sale and leaseback of Bartercard's Australian headquarters building for A$13.5million has been completed with funds settled to the company's Australian account today. Bartercard Australia has entered into a ten year lease for approximately 80% of the space in the building. The sale retires all the entire long term cash debt of the group and frees up A$1 million per year in cash flow capital repayments. It also provides additional working capital to fund expansion in the UK and the UAE, both of which are growing at a record rate. "Never before has this company been in such a strong financial position, and with unprecedented levels of enquiries for license sales, Bartercard is expecting to post a record year for 2006/7" says Executive Chairman, Wayne Sharpe. "Bartercard Australia, the company's largest subsidiary, is the profit engine for the group and requires no funding, which means the board has approved in principle, subject to accounting advice, the payment of a dividend to shareholders from the proceeds of this sale of up to A$1.5 million" says Mr. Sharpe. 29 November 2006 Enquiries: Bartercard PLC Wayne Sharpe, Chairman 07909 975488 This information is provided by RNS The company news service from the London Stock Exchange END DISBKLFLQFBZFBD
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