TIDMPNS 
 
14 July 2011 
 
                            Panther Securities PLC 
 
                         ("Panther" or the "Company") 
 
                                 Acquisitions 
 
Panther is pleased to announce that on 13 July 2011 the Company entered into 
contracts to purchase five freehold department stores which are owned and were 
formerly occupied by the Anglia Regional Co-operative Society Limited ("ARCS") 
trading as Westgate Stores. The majority of the trade and assets of Westgate 
Stores were recently acquired by Beale PLC, a Fully Listed department store 
group in which Panther holds just under 20 per cent. of the issued ordinary 
share capital. The Company paid approximately GBP7.1 million (in aggregate) for 
these five properties. 
 
The stores in question are: 
 
80 Newgate Street, Bishop Auckland, County Durham comprising approximately 
50,000 sq ft over three floors just off the prime shopping position in the town 
centre. 
 
49 Low Street, Keighley, West Yorkshire comprising approximately 35,000 sq ft 
on three floors. It adjoins a Marks &Spencer store and the main shopping centre 
in the town. 
 
53-57 High Street, St Neots, Cambs comprising approximately 30,000 sq ft on two 
floors together with an 80 space car park to the rear, adjoining a Marks & 
Spencer store. 
 
Market Place/Bridge Street, Spalding, Lincolnshire comprising approximately 
23,000 sq ft on two floors in the main trading position of the town. 
 
8 Market Place, Diss, Norfolk comprising approximately 8,000 sq ft in the prime 
shopping of the town centre. 
 
These department stores previously generated approximately GBP14 million per 
annum, excluding VAT, under the ARCS ownership. The acquisition agreements 
relating to these stores allow for a two year rent free period commencing on 22 
May 2011 for the stores other than 80 Newgate Street, Bishop Auckland which has 
a one year rent free period. The total rent that will be receivable by Panther 
(the majority of which will be received in 22 months' time) will be GBP675,000 
per annum. 
 
The rent passing under the leases is a minimum figure, subject to an additional 
five per cent. Turnover rent on turnover in excess of targets which the board 
believes should be achieved. The leases are all on full repairing and insuring 
terms for 15 years with rent reviews. 
 
In addition, the Company exchanged auction contracts last week to purchase the 
long leasehold property known as Templegate House, 115-123 High Street, 
Orpington for GBP1,250,000. This modern building contains five shops and 17,000 
sq ft of office space over the three floors above. The property is almost fully 
let and produces rent of GBP276,000 per annum. The price reflects the fact that 
two of the larger tenants' leases expire towards the end of this year. The 
property is held under a ground lease at a peppercorn rent, with approximately 
94 years unexpired, and was purchased from an LPA Receiver. 
 
In addition, this week Panther exchanged contracts to purchase 79/97 Commercial 
Street, Batley, a freehold property which is well positioned in the town. The 
property currently produces GBP143,000 per annum, excluding the potential income 
from two vacant shops. The tenants include Boots, the Card Factory, Coral 
Estates, TUI UK and Kirkwood Hospice. The price paid was GBP1,326,000. 
 
All the purchase prices quoted are, of course, exclusive of the monstrously 
excessive four per cent. stamp duty on larger purchases. 
 
The Directors are extremely pleased with the range and spread of these 
properties which, in due course, will increase Panther's rental income by over 
GBP1.1 million per annum, for an aggregate purchase price of GBP10.1 million, 
including stamp duty. 
 
The Directors hope to be able to purchase other long term investment 
opportunities immediately following the completion of the Company's new loan 
facility, which was set out in the announcement of the Company's final results 
on 20 April 2011. The current purchases set out above are being funded out of 
existing cash resources and short term loan facilities available to the Group. 
 
For further information contact: 
 
Panther Securities PLC                                            01707 667 300 
 
Andrew Perloff - Chairman 
 
Simon Peters - Finance Director 
 
City Profile                                                      020 7448 3244 
 
Simon Courtenay 
 
Sheena Khan 
 
 
 
END
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