Completion of Disposal of Property Portfolio (8125J)
July 05 2011 - 8:35AM
UK Regulatory
TIDMHTI
RNS Number : 8125J
Hawtin PLC
05 July 2011
Hawtin Plc - in administration
Completion of Disposal of Industrial Property Portfolio
Hawtin Plc - in administration ("Hawtin" or the "Company")
announces that following shareholder approval being obtained at the
Company's General Meeting on 31 March 2011 at 10.00 a.m., Hawtin's
administrator has completed the disposal of the group's 800,000 sq
ft mixed commercial property portfolio to Gracelands Investments
Limited, a related party of Hawtin.
Hawtin remains in administration following the enlodgement of a
claim for GBP3 million by Anglo Irish Bank Corporation Limited
(AIBC) against a parent company guarantee provided by the Company
in relation to Millennium Plaza in Cardiff, a property then owned
by Hawtin's subsidiary, Crown Investments Limited. Millennium Plaza
has since been sold by Allsops acting as LPA receiver for AIBC
although the GBP3 million claim remains lodged.
The Company's shares will remain suspended until the claim by
AIBC is either settled or withdrawn thereby clarifying the
financial position of the group and also that the Company's annual
report and accounts for the year ended 31 December 2010 are issued
to shareholders.
- Ends -
Enquiries:
Hawtin PLC
Nicola Crickmore, Company Secretary Tel: 01633 682130
Seymour Pierce Limited
Guy Peters / David Foreman (Corporate Tel: 020 7107 8000
Finance)
Richard Redmayne (Corporate Broking)
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISLLFVVDVIEIIL
Hawtin (LSE:HTI)
Historical Stock Chart
From Sep 2024 to Oct 2024
Hawtin (LSE:HTI)
Historical Stock Chart
From Oct 2023 to Oct 2024
Real-Time news about Hawtin (London Stock Exchange): 0 recent articles
More Hawtin News Articles