Business
Land Sale
Land Sale.
About this update from Lpa Group Plc
[{"type":"text","content":"\n \n \n LPA GROUP PLC\n \n \n (\"LPA\" or the \"Group\")\n \n \n \n Land Sale\n \n \n \n LPA Group plc, the high reliability LED lighting, electronic and electro-mechanical system designer and manufacturer, is pleased to announce the sale of an undeveloped plot of land owned by the Group.\n \n \n Following internal review and taking account of the property market, the Board agreed to market the plot. A blind bid process commenced through an external agent and a cash offer of £1.72m was accepted, and the sale has now completed. The plot is in close proximity to the Group's Saffron Walden site and gave rise to rental income of £7,000 pa from a communications mast which is situated on the plot. The net proceeds are expected to be invested in the medium to long term to support the Group's growth. The book value of the plot at 31 March 2022 was £nil.The proceeds, net of sale costs, will be recognised as an exceptional gain in the current year's results, with gross sales proceeds of £1.72m.\n \n \n \n \n \n \n \n Enquires:\n \n \n \n \n \n \n www.lpa-group.com\n \n \n \n \n \n \n \n \n \n \n \n \n \n Tel:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n LPA Group plc\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Robert B Horvath\n \n \n \n \n \n Chairman\n \n \n \n \n \n \n \n \n \n \n \n \n 01799 512844\n \n \n \n \n \n \n Paul Curtis\n \n \n \n \n \n CEO\n \n \n \n \n \n \n \n \n \n \n \n \n 01799 512858\n \n \n \n \n \n \n Chris Buckenham\n \n \n \n \n \n CFO\n \n \n \n \n \n \n \n \n \n \n \n \n 01799 512859\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n finnCap\n \n \n \n \n \n \n NOMAD and Broker\n \n \n \n \n \n \n \n \n \n \n \n \n 020 7220 0500\n \n \n \n \n \n \n Ed Frisby / Abigail Kelly / Tim Harper\n \n \n (Corporate Finance)\n \n \n Tim Redfern / Charlotte Sutcliffe\n \n \n (ECM)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n _____________________________________________________________________________________\n \n About LPA\n \n LPA Group plc (AIM: LPA) is a market leading designer, m...