Update on land at Blackheath
November 11 2010 - 9:49AM
UK Regulatory
TIDMDSN
RNS Number : 0477W
Densitron Technologies PLC
11 November 2010
Densitron Technologies plc
Update on land at Blackheath
Densitron Technologies plc ("Densitron" or the "Group") announces that the
planning application it submitted for the land it owns at Blackheath has been
refused.
The refusal was expected as the application was against the current local
authority policy. However, the Group always considered that obtaining
permission would be a drawn-out process and that the initial application was the
first part of that process. Densitron has several options of how to proceed and
will now consider which approach is the most appropriate to give the best
opportunity to obtain planning permission in the future. Densitron continues to
value the Blackheath land at GBP50,000 in its books.
The Board will advise shareholders when there are further developments on this
matter.
The Group continues to maintain approximately GBP4.5m in cash, representing
approximately 6.5p per share and is considering its options on how best to
utilise these funds.
Enquiries:
+------------------------------+------------------------------+
| Densitron | Westhouse Securities |
| Grahame Falconer / Tim | Tim Metcalfe / Martin |
| Pearson | Davison |
| Tel: 0207 648 4200 | Tel: 020 7601 6100 |
| | |
+------------------------------+------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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