Asset Manager's Update - Loan
Facility
M&L Property & Assets Plc (the “Company” or
“Group”)
Loan Facility & Property
Sales
Further to the Company's announcement on 5 October 2015, the Group has sold a further
three properties at a sales price of €843,029 (after deducting all
sales commission and tax). The funds received from these
sales (before deducting agency fees) were €43,159 less than the
balance sheet value of these properties.
€284,492 of the sales proceeds have been applied against the
loan to the Company from M & M Investment Company plc.
The loan owing to M & M Investment Company plc (and any
associates) has now been repaid in full.
The Company's annualised income (including rent) is currently
around €445,000.
For further information, please contact:
Asset Manager:
M & L Capital Management Limited
Tel: +44 (0) 20 7584 5733
Nominated Adviser:
Liam Murray/Jo Turner
Cairn Financial Advisers LLP
Tel: +44 (0) 20 7148 7900