Acquisition (1238F)
June 11 2012 - 10:50AM
UK Regulatory
TIDMBLEY
RNS Number : 1238F
Bailey(C.H.) PLC
11 June 2012
CH Bailey plc
11 June 2012
Acquisitions
CH Bailey plc ("the Company" or "the Group"), the diverse group
of businesses, with investments and operations around the world in
Leisure, Property principally in Tanzania and Malta and a UK
engineering business, is pleased to announce the acquisition of two
properties. The first is 30 St Barbara's Bastions, which is a town
house overlooking the Grand Harbour, located in Valletta, Malta and
was acquired at a cost of around EUR 1,200,000. The second is a
property of 24 acres located with beach front in Kimbiji Bay, some
25 miles south of Dar es Salaam, the largest city in Tanzania,
which was acquired at a cost of around $ 800,000. The purchase of
both properties was settled from the Group's own cash
resources.
The Group anticipates announcing its results for the financial
year ending 31st March 2012 in Mid-August 2012. Commenting on the
two transactions, Mr Charlie Bailey, Executive Chairman for the
Group said: "These are two good investments, which will give the
Company the opportunity to develop and expand its operations in two
countries, Malta and Tanzania, which we know well and which
continues to offer development opportunities, even in these
difficult times"
Further information:
Bryan Warren, Company Secretary
C.H.Bailey Plc
Tel: 01633 262961
Richard Day / Jamie Cameron
Arden Partners plc
Tel: 020 7614 5917
This information is provided by RNS
The company news service from the London Stock Exchange
END
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