Sale of Land and Properties

 

TIDMDYS 
 
RNS Number : 2550E 
Dyson Group PLC 
16 December 2009 
 

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| For immediate release           |                         16 December 2009 | 
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Dyson Group plc 
("Dyson" or "The Group") 
 
 
SALE OF LAND AND PROPERTIES 
 
 
 
 
Dyson Group (LSE:DYS), the materials technology company, is pleased to announce 
that, in line with its stated strategy of disposal of non-core property,  it has 
exchanged contracts (with completion set for 15 January 2010), for the sale of 
its farmland and associated farm buildings on the Stannington, Crawshaw and 
Ughill Estate in Sheffield. 
 
 
This land and property has been sold in a number of separate lots to several 
different parties to realise gross cash proceeds of GBP2,315,500 (GBP2,238,750 
after costs).  The land and property had a total Book value of GBP1,618,000 at 
31st March 2009). 
 
 
A number of the individual sales included in the above amount to Class II 
transactions under the Listing Rules. These are detailed below: 
 
 
  1.  Part of Bents and Griffs Farm to Mr. and Mrs. P. Gosney, Anna Gosney and William 
  Gosney Ltd at a price of GBP485,000 (Book value of GBP263,500) 
  2.  Hills Farm and certain adjacent land to Distinfields Properties Ltd at a price 
  of GBP340,000 (Book value of GBP287,500) 
  3.  Ughill Farm to W. H. Strawson Farms Ltd at a price of GBP535,000 (Book value of 
  GBP455,000) 
  4.  Part of Bents Farm to a syndicate of buyers at a price of GBP420,000 (Book value 
  of GBP257,000) comprising of Graham Leslie Andrew and Thelma Kathleen Andrew, 
  Ronald Trevor Jarvis and Violet Jarvis, Julian Alexander Flewitt and Kerry Ann 
  Flewitt, Melanie Ruth Smart, Peter Granville Hogan and Julie Dawn Hogan, Richard 
  Lee Royston and Elizabeth Julie Royston, Gary Samworth and Shirley Rubina 
  Samworth, Margaret Flewitt, Michael Thomas Newsam and Gloria Jean Newsam, Howard 
  Key and Kathryn Elizabeth Key. 
 
 
 
The consideration for the sale of all the land and property has been satisfied 
by payment of a 10% deposit upon exchange of contracts. The balance will be 
payable upon completion, which the Directors envisage will take place on 15 
January 2010 or earlier with the agreement of the individual buyers. 
 
 
The land and property was previously rented to a number of tenants, securing a 
gross annual income of approximately GBP39,000. 
 
 
The proceeds of these sales will be used to fund the ongoing restructuring and 
reorganisation costs and/or working capital requirements of the Group. 
 
 
For further enquiries, please contact: 
 
 
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| Dyson Group plc                          | Tel: [phone]                   | 
| Julian Cooper, Interim Chief Executive   |  Tel: [phone]                  | 
| Officer                                  |                                      | 
| Christopher Honeyborne, Chairman         |                                      | 
+------------------------------------------+--------------------------------------+ 
| Buchanan Communications                  | Tel: [phone]                   | 
| Charles Ryland                           |                                      | 
| Catherine Breen                          |                                      | 
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| KBC Peel Hunt                            | Tel: [phone]                   | 
| Julian Blunt (Corporate Finance)         |                                      | 
| Nicholas Marren (Corporate Broking)      |                                      | 
|                                          |                                      | 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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