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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Lxb Retail Properties Plc | LSE:LXB | London | Ordinary Share | JE00B4MFKH73 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.54 | 1.10 | 1.98 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLXB
RNS Number : 6850W
LXB Retail Properties Plc
18 April 2019
18 April 2019
LXB Retail Properties Plc
(the "Company" or the "Group")
Rescheduling of Court Dissolution Hearing and NAV update
The Board of the Company announces that:
(i) due to unexpected delays with matters connected to the transfers by the Company of its four remaining subsidiary undertakings (such transfers being undertaken in accordance with the Scheme and on the basis set out in the circular dated 1 March 2019 (the "Circular")); and
(ii) in order to realise as much value as possible from its four remaining subsidiary undertakings,
the Company has rescheduled the Court Dissolution Hearing, which was previously announced to be held at 10.00 a.m. on 26 April 2019, to 10:00 a.m. on 21 May 2019 at the Royal Court of Jersey.
In the Circular, the Board announced that its expectation was that the Dissolution Return of Capital to Shareholders would be approximately GBP3.4m (2 pence per share). However, in light of the matters affecting the transfers of the four remaining subsidiary undertakings, the Board has subsequently reconsidered its guidance on the Group's final cash NAV and now anticipates that the final amount will be lower than previously announced. The Company will make an announcement with further details of the new guidance as soon as possible next week.
The following timetable sets out the expected dates of principal events, some of which are indicative and some of which have changed since the date of the previous announcement:
2019
Transfer of LXB Kingsmead and LXB Holdings On or before 21 May 2 to the IW Group Transfer of LXB Skew Bridge and LXB Rushden On or before 21 May to Blizzard Court Dissolution Hearing 10:00 a.m. on 21 May Last day of dealings in, and for registration 22 May of transfers of, and disablement in CREST of, the Ordinary Shares Record date for participation in Dissolution Close of business on 22 May Return of Capital Suspension of admission to trading on AIM, 7.30 a.m. on 23 May listing on TISE and dealings in the Ordinary Shares CREST accounts credited and despatch of cheques As soon as possible on 30 in respect of Dissolution Return of Capital May Expected time and date of AIM Cancellation 7.00 a.m. on 31 May and TISE Delisting Expected time and date of Company Dissolution After 9.00 a.m. on 31 May
Capitalised terms, unless otherwise defined shall have the meaning given to them in the Circular, copies of which are available on the Company's website (www.lxbproperties.com)
For further information please contact:
LXB3 Partners LLP Tel: 020 7432 7900
Tim Walton, CEO
J.P. Morgan Cazenove (NOMAD) Tel: 020 7742 4000
Bronson Albery/Paul Hewlett
Buchanan Tel: 020 7466 5000
Charles Ryland/Henry Wilson
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
STRUWSSRKOASAAR
(END) Dow Jones Newswires
April 18, 2019 11:00 ET (15:00 GMT)
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