Feedback PLC
07 February 2007
Feedback PLC
7 February 2007
Feedback PLC ('Feedback' or 'the Company')
Update on Property Disposal
The Board is pleased to announce an update on the sale of its freehold head
office in Park Road, Crowborough, East Sussex (the 'Premises'). The Directors
have been informed that full planning permission for the re-development of the
Premises has been granted to Antler South East Homes Limited, with whom Feedback
exchanged conditional contracts for the sale of the Premises in March 2005.
Satisfaction of the conditions under the contract is expected to occur on or
about 23 March 2007 at which time Feedback will receive an initial payment of
£50,000. Feedback will vacate the premises no later than 23 December 2007 at
which time completion will take place and then Feedback will receive a further
£905,000.
The net proceeds arising from the disposal of the premises are intended to be
used to fund relocation of the company and to augment working capital.
The Board will release a further announcement in due course.
Enquiries:
David Sawyer 01892 653322
Feedback plc
Philip Davies 020 7149 6457
Charles Stanley Securities
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