Caffyns PLC
30 May 2002
Caffyns plc announce that they have today exchanged unconditional contracts for
the sale of its freehold premises in Salisbury, Wiltshire for a cash
consideration of £1.925m which is due to be paid on 26 July 2002. An exceptional
gain before taxation of approximately £1.15m will arise on the sale. The
proceeds will be applied in reducing group borrowings.
Following a review by DaimlerChrysler UK Limited ('DCUK') of their dealer
network, the Mercedes-Benz business currently operated from these premises is
due to be sold to a dealer nominated by DCUK Limited by 30 June 2002.
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