Business
Acquisition
Acquisition.
About this update from Caffyns Plc
[{"type":"text","content":"\n \nRNS Number : 5650W Caffyns PLC 27 April 2016 \n\nCaffyns plc\n \nAcquisition of Property\n \nCaffyns plc (the \"Company\") announces that it has exercised options (which expire today, 27th April 2016) to acquire three parcels of land, approximately 3.7 acres in aggregate, in Angmering, West Sussex (the \"Land\"). \n \nTotal consideration for the Land is £2.3 million in cash which will be satisfied from the Company's existing bank facilities as follows:\n \n(a) £1.025 million for land and buildings to be acquired from Mr R I Cahn on 27th October 2016;\n \n(b) £0.8 million for land and buildings to be acquired from Mr M J Ridpath and Ms S A Knowles on 27th October 2016 (or earlier at the option of the vendors but not before 27th July 2016); and\n \n(c) £0.475 million for land and buildings acquired from Haskins Garden Centres Limited on 27th October 2016.\n \nThe Company intends to relocate its existing Audi dealership in Worthing to the Land. Planning permission for the proposed relocation was initially refused by Arun District Council on 31st March 2016. However, following Counsel's advice in relation to the grounds for a planning appeal, the Company intends appealing against this decision.\n \nEnquiries:\n \nSimon Caffyn\nChief Executive\n \nMark Harrison\nFinance Director\n \nTelephone: 01323 730201\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQAKODNPBKDDQB\n ","length":2922,"tagName":"div"}]