Robinson PLC Sale of Property (1883I)

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RNS Number : 1883I

Robinson PLC

01 July 2013

 
 1 July 2013

Robinson plc

("Robinson" or the "Company")

SALE OF PROPERTY

The Company confirms that, further to the announcement of 4 July 2011, Sonoco Limited has exercised its option to acquire the land and buildings of the spiral wound paperboard containers known as Portland, Goyt Side Road, Chesterfield from Robinson (the "Option"). This property was previously leased to Sonoco following the disposal of the Robinson spiral wound paperboard business.

Pursuant to the terms of an agreement, Sonoco will acquire the property from Robinson for GBP4m. Completion of this transaction is scheduled for 19 July 2013. The transaction is expected to realise a book profit of GBP1m for the Company. The proceeds will be held as cash whilst the Company continues to look at investment opportunities to expand its packaging business in Europe.

For further information, please contact:

 
 Robinson plc 
 Guy Robinson, Finance Director           Tel: 01246 389283 
                                  www.robinsonpackaging.com 
 WH Ireland 
 Katy Mitchell                           Tel: 0161 832 2174

This information is provided by RNS

The company news service from the London Stock Exchange

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