Proposed Disposal
December 15 2004 - 7:51AM
PR Newswire (US)
Proposed Disposal For immediate release 15 December 2004 Panther
Securities PLC ("Panther" or "the Company") Proposed disposal of
freehold property in Coventry Panther Securities PLC announces that
one of its wholly-owned subsidiaries has entered into a put and
call options for the sale of its freehold complex at Copthall
House, Coventry, exerciseable between 4th and 20th January, 2005 at
a price of �9,250,000, payable in cash upon completion, which will
be 20 days after the exercise of the option. These properties were
independently valued for the Company's 2003 accounts at � 5,250,000
and in that year produced a gross income of approximately �700,000
with a net income of �450,000. The current year's net income will
be approximately �80,000 higher than in 2003. Should the
transaction proceed to a satisfactory conclusion, the Directors
intend to pay a special interim dividend of 10 pence per share for
the year ending 31 December, 2005. This will be paid at the same
time as the final dividend for the year ending 31 December, 2004.
For further information: Andrew Perloff, Panther Securities plc:
020 7278 8011 END
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