Re Agreement
March 12 2003 - 10:24AM
UK Regulatory
RNS Number:6488I
Southern Vectis PLC
12 March 2003
Southern Vectis plc
Southern Vectis has today entered into an agreement with Halladale Group plc
granting it an option to purchase Newport Bus Station for #5.076 million. The
agreement also provides for Southern Vectis, in conjunction with Halladale, to
develop a bus interchange on land which Southern Vectis will retain adjacent to
the bus station.
It is unlikely that the option will be exercised prior to the grant of suitable
planning permission for the redevelopment of the bus station site. It is
therefore doubtful that the proceeds of disposal would be received any earlier
than some time in Southern Vectis' accounting period ending on 30 April 2005.
12 March 2003
This information is provided by RNS
The company news service from the London Stock Exchange
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