16th Apr 2015 09:26
LONDON (Alliance News) - TF & JH Braime (Holdings) PLC Thursday said its pressing subsidiary has agreed to sell about 1.18 acres of warehousing and car park space to Leeds Advanced Manufacturing UTC Ltd for GBP855,000 plus a contribution to "associated works" of GBP295,000, but the move won't impact its operations and will contribute to modernisation of facilities elsewhere on the site.
The deal is conditional on Leeds Advanced getting the relevant planning and listed building permissions and satisfactory site investigation results.
The site being sold makes up about a quarter of the company's 4.6 acre site, but there won't be any change to operations because the warehousing facilities will be relocated to another part of the site. It said the proceeds will be used to relocate and upgrade the existing warehouse and logistics functions, which will enhance its future operating efficiency.
The book value of the land and buildings in the proposed deal is GBP25,000.
Braime's shares were untraded Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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