Braime Group PLC Warehouse Update (6314C)

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RNS Number : 6314C

Braime Group PLC

24 February 2022

BRAIME GROUP PLC

("Braime" or the "Company" and with its subsidiaries the "Group")

Warehouse Update

On 18 August 2021, the Company announced that as part of the Company's wider strategy to enhance its freehold property at Hunslet Road (Leeds) the Group were redeveloping the rear of the property and incorporating a new climate-controlled warehouse extension for use by its CNC chain cell operations, improving dispatching areas for its manufacturing division, and additional parking facilities. The anticipated completion date for this was around the end of 2021.

The Company confirms that in the course of construction the builders have encountered an unmarked well which has caused delays to the works. Completion of the warehouse is now expected to be the summer of 2022.

Any additional overrun of costs is anticipated to come from existing cash resources.

For further information please contact:

Braime Group PLC

Nicholas Braime/Cielo Cartwright

0113 245 7491

W. H. Ireland Limited

Katy Mitchell

0113 394 6628

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February 24, 2022 02:00 ET (07:00 GMT)