Sale of Land etc
June 22 2006 - 1:22PM
UK Regulatory
RNS Number:0498F
FBD Holdings PLC
22 June 2006
Validation No. 076601
Public Announcement
FBD Holdings plc ("FBD" or "the Group")
Sale of land at La Cala Resort, Spain
and
Payment of Special Dividend
On 23rd February 2006, FBD announced a conditional agreement under which the
Group's 100% owned Spanish Property and Leisure Subsidiary, Ranchos Reunidos
S.A. undertook to dispose of a major portion of the building development land
which it owned at La Cala Resort, Mijas, Costa del Sol, Spain, for a total
consideration of Euro201m.
FBD is pleased to advise that the signing of the land transfer deal has taken
place as scheduled and the initial consideration payment of Euro100m. arising on
the Tranche 1 land has been received. The remainder of the Tranche 1
consideration, amounting to Euro21m., is due for payment on 30th June 2007.
As advised in the announcement of 23rd February 2006, the consideration,
amounting to Euro80m., for the Tranche 2 land, becomes payable at a later date,
subject to receipt of final planning approval from the Spanish Regional Planning
Authority.
Special Dividend
In accordance with its previously advised intention to distribute the net cash
proceeds arising from the overall transaction by way of two special dividends,
the Board has declared the first special dividend of Euro1.60 per share. This
will be paid on the 11th August 2006 to shareholders on the Company Register at
close of business on 21st July 2006. This dividend is subject to withholding
tax ("DWT"), except for shareholders who are exempt from DWT and have furnished
a properly completed Capital Composite Resident Form to the Company's
Registrar.
Ends
22nd June 2006
For Reference:
Telephone No
FBD
Philip Fitzsimons Chief Executive
00 - 353 - 1 - 4093208
Andrew Langford Finance Director
00 - 353 - 1 - 4093208
Murray Consultants
Joe Murray
00 - 353 - 1 - 4980300
This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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