Property Disposal
April 28 2009 - 4:26AM
UK Regulatory
TIDMDYS
RNS Number : 2715R
Dyson Group PLC
28 April 2009
For immediate release
28 April 2009
Dyson Group Plc ("Dyson" or "Company")
Property Disposal
Dyson is pleased to announce, in line with its stated strategy of disposal of
non core property, the unconditional sale of its freehold land and buildings at
381, Fulwood Road Sheffield (currently used as its registered office) for a
price of GBP1.35 million in cash to Mrs Jennifer Jane Barlow. 5 per cent of the
consideration will be paid on 15 May 2009 with the balance payable on
completion. The proceeds of this sale will be used to reduce net borrowings.
The Directors expect completion to take place at the end of August 2009, though
under the terms of the contract completion may take place at the later date of
15 September 2009 or earlier at Dyson's option, subject to at least 10 days
advance notice to the purchaser that completion is to be brought forward to the
last working day of any month before 15 September 2009.
The property was stated in the Group's last interim accounts as at 30 September
2008 at a value of GBP1.25 million.
All the staff employed at Fulwood Road will relocate to the Company's premises
at Baslow Road in Sheffield.
Enquiries:
Dyson Group Plc Tel: 0207 340
8528/0114 263 2835
Patrick Lammers, Chief Executive Officer
Christopher Kinsella, Finance Director
Buchanan Communications Tel: 0207 466 5000
Charles Ryland / Ben Willey / Catherine Breen
KBC Peel Hunt Ltd Tel: 0207 418
8900
Marianne Woods (Corporate Broking)
Julian Blunt (Corporate Finance)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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