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LXB Lxb Retail Properties Plc

1.54
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

LXB Retail Properties Plc Court Dissolution Hearing and NAV update (6850W)

18/04/2019 4:00pm

UK Regulatory


Lxb Retail Properties (LSE:LXB)
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From Mar 2019 to Mar 2024

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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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