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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 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLXB
RNS Number : 9999Q
LXB Retail Properties Plc
11 June 2018
11 June 2018
LXB RETAIL PROPERTIES PLC
(the "Company" or the "Group")
Update on Return of Cash
LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail assets today provides an update on plans for a Return of Cash to shareholders (a "Return of Cash").
The Chairman's letter in the circular to shareholders concerning the proposed Scheme of Arrangement (approval of which by the Royal Court of Jersey was announced on 16 March 2018) noted the intention to make a Return of Cash once the Group had negotiated a reduction in a performance bond related to Rushden lakes. The Group is pleased to announce that all of the principal commercial terms to allow for that performance bond to be cancelled have been agreed with The Crown Estate. Both parties' lawyers are now engaged in finalising the necessary documentation and the Company expects that the bond will be formally released within the next seven days.
The Board is due to meet at the end of June to consider the interim results for the six months to 31 March 2018. That meeting will now also consider detailed proposals for a Return of Cash; an announcement will be made as soon as possible thereafter.
For further information please contact:
LXB Partners LLP Tel: 020 7432 7900 Tim Walton, CEO Brendan O'Grady, FD 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
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(END) Dow Jones Newswires
June 11, 2018 08:45 ET (12:45 GMT)
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