LPA Group PLC Land Sale (7778T)
July 26 2022 - 6:30AM
UK Regulatory
TIDMLPA
RNS Number : 7778T
LPA Group PLC
26 July 2022
LPA GROUP PLC
("LPA" or the "Group")
Land Sale
LPA Group plc, the high reliability LED lighting, electronic and
electro-mechanical system designer and manufacturer, is pleased to
announce the sale of an undeveloped plot of land owned by the
Group.
Following internal review and taking account of the property
market, the Board agreed to market the plot. A blind bid process
commenced through an external agent and a cash offer of GBP1.72m
was accepted, and the sale has now completed. The plot is in close
proximity to the Group's Saffron Walden site and gave rise to
rental income of GBP7,000 pa from a communications mast which is
situated on the plot. The net proceeds are expected to be invested
in the medium to long term to support the Group's growth. The book
value of the plot at 31 March 2022 was GBPnil. The proceeds, net of
sale costs, will be recognised as an exceptional gain in the
current year's results, with gross sales proceeds of GBP1.72m.
Enquires: www.lpa-group.com Tel:
------------------------------------ ------------------- --------------
LPA Group plc
Robert B Horvath Chairman 01799 512844
Paul Curtis CEO 01799 512858
Chris Buckenham CFO 01799 512859
finnCap NOMAD and Broker 020 7220 0500
Ed Frisby / Abigail Kelly / Tim
Harper
(Corporate Finance)
Tim Redfern / Charlotte Sutcliffe
(ECM)
_____________________________________________________________________________________
About LPA
LPA Group plc (AIM: LPA) is a market leading designer,
manufacturer and supplier of high reliability LED lighting,
electronic and electro-mechanical systems, and a distributor of
engineered components.
Focused on transport (rail and aviation), defence,
infrastructure and industrial markets and supplying into hostile
and challenging environments, LPA is known for engineering
solutions to improve product reliability, reducing maintenance and
life cycle costs.
The Group has three sites across the UK, selling to customers in
the UK and overseas. Two of these are design and manufacturing
sites: LPA Connection Systems - electro-mechanical systems for
rail, aviation and industrial, and LPA Lighting Systems - LED
lighting and electronic systems for rail and infrastructure. The
third site is LPA Channel Electric - a value added distributer of
engineered components for rail, aerospace and defence.
With over 160 years of UK design and manufacture, and with
origins in the first ever light installed in 'Electric Avenue',
Brixton; innovation is core to LPA and to the products and services
supplied to our customers worldwide.
For more information visit www.lpa-group.com .
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END
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