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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Dukemount Capital Plc | LSE:DKE | London | Ordinary Share | GB00BMWC6Q55 | ORD GBP0.00001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.005 | 15.38% | 0.0375 | 0.035 | 0.04 | 0.0375 | 0.0325 | 0.0325 | 46,960,855 | 14:48:09 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Lessors Of Real Property,nec | 0 | -408k | -0.0059 | -0.07 | 27.73k |
TIDMDKE
RNS Number : 8579Q
Dukemount Capital PLC
11 June 2018
11 June 2018
Dukemount Capital Plc
("Dukemount" or the "Company")
30-Year Agreement-to-Lease Signed on Second Acquisition
Dukemount Capital plc, the long-dated income provider and property management company has signed a 30 year CPI linked agreement-to-lease at GBP168,740 per annum with multi-award winning Inclusion Housing (Inclusion) www.inclusionhousing.org.uk and has agreed to exchange contracts with the vendor of the property subject to planning permission for additional rooms.
The second acquisition in North West England continues to move forward after we agreed to add additional rooms and offices as requested by Inclusion and the care provider. As this project is a refurbishment of an existing building rather than a full redevelopment, it is anticipated that the work will take less time than a full redevelopment. We have been working with our architect to meet the housing associations request while keeping within extensive health and safety requirements of supported living. When appropriate the finalised architect drawings will be available to view on our website www.dukemountcapitalplc.com.
Inclusion Housing, in common with a number of housing associations who lease property from other organisations, recently went through an in-depth assessment by the Regulator of Social Housing. The regulator is reviewing a Governance related issue with regards to Inclusion's compliance with the Governance and Financial Viability Standard. We have been informed by Inclusion that at this stage they do not consider Inclusion to be non-compliant with the viability requirements of this standard.
Dukemount Executive Chairman Geoffrey Dart said, "There is very high demand for supported living accommodation throughout the UK. Dukemount is actively pursuing projects in the Midlands and South West England as demand is strong, confirmed to us by the local authorities in these areas. We believe that Inclusion Housing is a good fit with Dukemount and look forward to working with them on other projects around the country.
Inclusion Chief Executive Neil Brown said, "In the last six years, Inclusion has increased its housing units in management by over 1,800% to 1,537. This first-rate growth has been achieved through excellent partnerships like the one we have signed today with Dukemount. Inclusion Housing is a viable, high performing and robust business and is working with the Regulator to provide the reassurance they require.
Market Abuse Regulation (MAR) disclosure
Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Dukemount Capital Tel: +44 (0) 7874 762 821 Plc Timothy Le Druillenec Walbrook PR (Media Tel: +44 (0) 207 933 8780 and Investor Enquiries Paul Cornelius / dukemountcapital@walbrookpr.com Gary Middleton Optiva Securities Tel: +44 (0) 203 137 1906 Ltd Christian Dennis - Corporate Broker Jeremy King - Corporate Broker Peterhouse Corporate Tel: +44 (0) 207 469 0930 Finance Limited Lucy Williams/Duncan Vasey
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
June 11, 2018 02:00 ET (06:00 GMT)
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