Delyn Group PLC
5 May 2000
Delyn Group PLC
The Board of Delyn Group PLC is pleased to announce that contracts
have been exchanged for the conditional sale of its three
remaining investment properties in Caerphilly, Wales for a total
cash consideration of £3,000,000. This compares with their book
value of £2,951,000. Completion of the sale is anticipated to
occur in mid July 2000.
The Board of Delyn announced on 27 April 2000 that it is
recommending an offer to acquire the whole of the issued share
capital of ingenta. ingenta is a world leader of on-line
knowledge communities and is already one of the UK's top 20 web
services.
Guy Naggar, Delyn's Chairman, reported that following the property
sales the pro forma cash resources of the enlarged Delyn Group
will be in excess of £15,000,000.
For further information please contact:
Delyn Group plc 020 7834 8060
Guy Naggar, Chairman 0498 755 444