Business
Receipt of further cash payment
Receipt of further cash payment.
About this update from Logistics Development Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6359R\n Logistics Development Group PLC\n 08 November 2021\n \n \n \n \n 8 November 2021\n \n \n \n \n \n Logistics Development Group plc\n \n \n \n \n \n (the \"Company\" or \"LDG\")\n \n \n \n \n \n Receipt of a further cash payment in respect of the disposal of GWSA\n \n \n \n \n \n Logistics Development Group plc, the AIM investing company, announces that it has received an additional payment of £2.2 million in connection with the disposal of Greenwhitestar Acquisitions Limited (\"GWSA\"), originally announced on 1 July 2021. LDG has to date received total net cash proceeds of £127.5 million in respect of the disposal of GWSA, including repayment of the £6 million investment in the related PIK loan note. \n \n \n \n \n \n As at the date of this announcement, LDG holds no material investment assets, is debt free and has an available cash balance of approximately £134.5 million (approximately 19.12 pence per share).\n \n \n \n \n \n The Company's Investment Manager, DBAY Advisors Limited, continues to review a number of investment opportunities, and the Board and Investment Manager remain committed to generating attractive investment returns for shareholders.\n \n \n \n \n \n \n \n \n For enquiries:\n \n \n \n \n \n \n \n \n Logistics Development Group plc\n \n \n \n \n Via FTI Consulting\n \n \n \n \n \n \n \n \n \n \n \n \n FTI Consulting\n \n \n Nick Hasell\n \n \n Alex Le May\n \n \n Cally Billimore\n \n \n \n \n \n \n \n +44 (0) 20 3727 1340\n \n \n \n \n \n \n \n \n \n Strand Hanson Limited\n \n \n (Financial and Nominated Adviser)\n \n \n James Dance\n \n \n James Spinney\n \n \n \n \n \n \n \n \n \n \n \n \n \n +44 (0) 02 7409 3494\n \n \n \n \n \n \n Investec Bank plc\n \n \n (Broker)\n \n \n Gary Clarence\n \n \n Harry Hargreaves\n \n \n \n \n +44 (0) 20 7597 5970\n \n \n \n \n \n \n \n \n \n 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 [email protected] or visit www.rns.com.RNS may use your IP address to con...