Business
Acquisition of interest
Acquisition of interest.
About this update from Conygar Investment Company Plc
[{"type":"text","content":"\n Conygar Investment Company PLC(The)\n30 November 2005\n\n30 November 2005\n\n\n THE CONYGAR INVESTMENT COMPANY PLC ('CONYGAR')\n\n ACQUISITION OF INTEREST IN MARINA DEVELOPMENT COMPANY\n\n\nThe Board of Conygar is pleased to announce the acquisition of 50 per cent. of\nthe share capital of Martello Quays Limited ('Martello') for a nominal sum.\nMartello, which is a partnership between Conygar, Welsh based developers and\nVinci Project Development Limited, a Vinci PLC subsidiary, has been appointed as\npreferred developer by a client group comprising Pembrokeshire County Council,\nthe Welsh Development Agency, the Crown Estate and The Milford Haven Port\nAuthority to obtain planning permission and develop an area known as Pembroke\nDock Waterfront. Norwest Construction Limited, another Vinci PLC subsidiary,\nhas been nominated as the main contractor for the development.\n\nIt is anticipated that the planning application, which will be submitted next\nyear, will include:\n\n 250 Houses\n 200 Apartments\n Factory Outlet\n Chandlery Shop\n Hotel\n Five Screen Multiplex Cinema\n Pub / Restaurant / Shops\n 300 Marina Berths\n 250 Marina Car Park Spaces\n Cruise Liner Berth\n\nConygar has committed to fund the planning application costs which will be met\nfrom existing resources and which are anticipated not to exceed £350,000.\nAdditional funding and development partners will be introduced as the scheme\nprogresses. Assuming the planning application is successful, it is anticipated\nthat the completed development will have an end value estimated to be in excess\nof £100 million.\n\nFor further information please contact:\n\nThe Conygar Investment Company PLC\n\nRobert Ware - 020 7725 0360\nSteven Vaughan - 020 7725 0360\n\n\nThe directors of Conygar accept responsibility for the information contained in\nthis announcement. To the best of the knowledge and belief of the directors of\nConygar (who have taken all reasonable care to ensure that such is the case) the\ninformation contained in this announcement is in accordance with the facts and\ndoes not omit anything likely to affect the import of such information.\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2568,"tagName":"div"}]