Sutton Harbour Holdings PLC AGM Statement (1351Q)
September 07 2017 - 9:30AM
UK Regulatory
TIDMSUH
RNS Number : 1351Q
Sutton Harbour Holdings PLC
07 September 2017
7 September 2017
Sutton Harbour Holdings plc (the "Company")
Annual General Meeting Statement
The Chairman of Sutton Harbour Holdings plc intends to issue the
following update on the ongoing formal sales process and trading to
shareholders attending today's AGM.
"The Board has continued to work with Rothschild to explore all
strategic options through the formal sales process to maximise
value for shareholders since the last update given in the
preliminary results announcement on 27 June 2017. This process
remains active and any future announcement will be made in
accordance with the City Code on Takeovers and Mergers.
Following the Company's submission of detailed representations
to the Plymouth and South West Devon Joint Local Plan (the "Plan"),
the Plan has been submitted to the planning inspectorate. The
public hearing of the Plan, to be led by a government inspector, is
anticipated before the end of the financial year with the
inspector's report due in 2018, although the timetable is outside
the Company's control. The new Plan will set the framework for
development in the locality for the next 17 years and has
particular significance for the former airport site and also for
the regeneration opportunities in the Sutton Harbour area.
Together with the preferred partner for the development of a
major mixed-use scheme at Sugar House, East Quay, we are working
towards the submission of a planning application. The scheme is
formulated to include residential and commercial uses.
During the first quarter of the current financial year real
estate and car parking revenues have been steady and the flow of
enquiries for vacant property remains encouraging. Berthing income
at the two marinas is also in line with the same period last year
although a major event has not been hosted this summer. Fish
landings have been slower during the first quarter although the
busiest period for the fisheries business occurs during the second
half of the financial year."
Enquiries
Sutton Harbour Holdings plc +44 (0) 1752 204186 Jason Schofield, Chief Executive
Natasha Gadsdon, Finance Director
Rothschild (Financial Adviser) +44 (0)20 7280 5000 John Byrne, Andrew Graham
Arden Partners (NOMAD and Broker) +44 (0)20 7614 5917 John Llewellyn Lloyd, Ben Cryer
DCA (Financial PR) +44 (0) 7768 534641 Philip Ranger
Notes to Editors
Sutton Harbour Holdings plc (SUH) is an AIM listed company
specialising in marine operations, waterfront regeneration and
destination creation in Plymouth and South West England.
The Company operates Sutton Harbour Marina, King Point Marina
and Plymouth Fisheries. Operational activities include mixed use
lettings, car parking and support services to harbour users,
property management and regeneration and asset enhancement.
Sutton Harbour Holdings plc is committed to being the leading
marine and waterfront regeneration specialist in Southern England,
and to positioning Sutton Harbour in Plymouth as a destination of
national interest.
This information is provided by RNS
The company news service from the London Stock Exchange
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