Business
Acquisition of new offices
Acquisition of new offices.
About this update from Newmark Security Plc
[{"type":"text","content":"\n \nRNS Number : 7762E Newmark Security PLC 10 May 2017 \n\n \n \n10 May 2017\n \nNewmark Security PLC\n \n(\"Newmark\", the \"Company\" or the \"Group\")\n \nAcquisition of new offices\n \nNewmark Security plc (AIM: NWT), a leading provider of electronic and physical security systems, announces the acquisition of new business premises in Poole, Dorset.\n \nThe Company's electronic division Grosvenor Technology, which delivers solutions in access control and workforce management, has had a presence in Poole for over ten years but its current rented premises will not be available from this summer. The Company has therefore taken the decision to purchase a property in the area. Exchange of contracts on the property, which comprises 11,685 sq ft of office space, has taken place today and completion is expected to occur by the end of May 2017. \n \nThe property will be acquired from LINSAR UK Limited for a consideration of £1.2 million, which will be funded 30% from the Company's existing cash reserves and 70% from a bank loan, which is for an initial five-year term with repayments and interest payable from month 13 onwards and carries interest at two per cent. above the base rate. \n \nMarie-Claire Dwek, Chief Executive Officer of Newmark said: \"This property acquisition underlines our commitment to the Grosvenor Technology business and our team in Poole. We look forward to continuing to work with Grosvenor Technology's customers from our offices in Poole and our other locations.\"\n \nFor further information:\n \n\n\n\n\nNewmark Security plc\nMarie-Claire Dwek, Chief Executive Officer\nBrian Beecraft, Group Finance Director\n \n\n\nTel: +44 (0) 20 7355 0070\nwww.newmarksecurity.com\n\n\n\n\nAllenby Capital Limited\n(Nominated Adviser and Broker)\nJeremy Porter / James Reeve / Liz Kirchner\n \n\n\nTel: +44 (0) 20 3328 5656\n\n\n\n\nYellow Jersey PR Limited\nFelicity Winkles / Joseph Burgess / Dominic Barretto\n \n\n\nTel: +44 (0) 7768 537 739\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQBUGDULBBBGRG\n ","length":4029,"tagName":"div"}]