Disposal
July 11 2003 - 3:00AM
UK Regulatory
RNS Number:4383N
Rok property solutions PLC
11 July 2003
Date: 11 July 2003
On behalf of: Rok property solutions plc ("Rok")
Embargoed until: 0700hrs
Rok property solutions plc
Disposal
Further to its announcement of 1st May 2003, the Board of Rok property solutions
plc ("Rok"), the listed providers of specially tailored property solutions,
announces that the contract relating to the disposal of the Cabin Hire assets
acquired with the Llewellyn Group in September 2002 has been novated to Wernick
Hire Limited at the request of Cox Plant Ltd. Completion of the disposal was
previously due to take place on 31 October 2003, however, in return for a modest
premium over the #1.5 million consideration Rok has agreed to permit this to
take place immediately. The consideration will be used to reduce debt.
Commenting on the disposal, Garvis Snook, Chief Executive of Rok property
solutions plc, said:
"The focus of the business is to maximise the full potential of our assets and
to develop our core property solutions offering - developing, building and
maintaining. The disposal of these assets represents the final stage of the
restructuring of the Llewellyn Group and we are delighted to have secured an
early completion at a premium to both the original consideration and the net
assets being disposed of."
Enquiries:
Garvis Snook, Chief Executive Tel: 01392 354004
Rok property solutions plc
Emma Kane/James White Tel: 020 7955 1410
Redleaf Communications Ltd Mob: 07876 338339
This information is provided by RNS
The company news service from the London Stock Exchange
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