Business
Additional Proceeds from 2013 Land Sale
Additional Proceeds from 2013 Land Sale.
About this update from Lpa Group Plc
[{"type":"text","content":"\n \nRNS Number : 4951L LPA Group PLC 11 January 2016 \n\n11 January 2016\n \nLPA GROUP PLC\n(\"LPA\" or the \"Group\")\n \nAdditional Proceeds from 2013 Land Sale\n \nLPA, the LED lighting and electro-mechanical system manufacturer and distributor, is pleased to announce that, pursuant to an 'overage' clause included in the £2.6m contract for sale of the Group's Tudor Works facility in Saffron Walden for a housing development in August 2013, the Group has been advised that the threshold for the development value of the site, above which overage payments would become payable, has been exceeded.\n \nThe additional proceeds to be received by the Group are not yet fully defined, but are likely to exceed £0.5 million (after commission and other costs). \n \nAn estimate of the additional proceeds will be included as an exceptional item in the results for the Group for the year ended 30 September 2015, which are expected to be published by 31 January 2016.\n \n \n \n \nENQUIRIES:\n \n\n\n\n\nLPA Group plc\n\n\n\n\n\n\n\nPeter Pollock, Chief Executive\n\n\nTel: 07881 626123 or 01799 512844\n\n\n\n\nSteve Brett, Finance Director\n\n\nTel: 07881 626127 or 01799 512860\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial (Nominated Adviser)\n\n\nTel: 020 7148 7900\n\n\n\n\nJames Caithie / Avi Robinson\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland (Broker)\n\n\nTel: 0113 394 6611\n\n\n\n\nTim Feather / Liam Gibben\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInstinctif Partners (PR Adviser)\n\n\nTel: 020 7457 2020\n\n\n\n\nMark Garraway / Helen Tarbet\n\n\n\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCAKDDPPBKDPDD\n ","length":4667,"tagName":"div"}]