Northacre PLC Receipt of Dividend and Update on The Lancasters (8415B)
April 08 2013 - 10:25AM
UK Regulatory
TIDMNTA
RNS Number : 8415B
Northacre PLC
08 April 2013
8 April 2013
Northacre PLC ("Northacre")
Receipt of GBP10m Dividend and Update on The Lancasters
Northacre announces that it has today received an interim
dividend of GBP10,000,000 from Lancaster Gate (Hyde Park) Ltd, our
joint venture with Minerva. This is the fifth interim dividend from
this development project and brings the total received to date to
GBP37.7m.
All but one of the apartments in the Lancasters development have
now been sold and it is our current estimate that our total profit
share (net of corporation tax) is likely to be in the region of
GBP49.8m. As noted above, we have received GBP37.7m to date in
dividends from this project, and therefore we estimate that a
further GBP12.1m will be forthcoming.
Enquiries:
Northacre PLC Tel: 020 7349 8000
Ken MacRae (Chief Executive Officer & Finance Director)
Klas Nilsson (Non-Executive Chairman)
finnCap Ltd Tel: 020 7220 0500
Stuart Andrews
Henrik Persson
Hudson Sandler Ltd Tel: 020 7796 4133
Michael Sandler
This information is provided by RNS
The company news service from the London Stock Exchange
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