10th Jul 2014 15:41
LONDON (Alliance News) - Retail property investor and asset manager London & Associated Properties PLC Thursday said its Finance Director Robert Corry will be retiring on December 31.
The company said Corry is retiring having helped it achieve a successful refinancing package which allowed it to strengthen its balance sheet, refinance the whole of a loan it had with Royal Bank of Scotland Group as well as releasing funds for new acquisitions.
Last week the company completed a GBP4.5 million debt package with Banco Santander and Europa Capital Mezzanine Ltd which also allowed it to extend its debt maturity profile, with GBP45 million of Its GBP60 million debt repayable in July 2019 and a further GBP10 million not due until August 2022.
"Robert has been an integral part of the management team for the last 22 years," Chief Executive John Heller said in a statement. "I would like to thank Robert for his valuable contribution during this time."
London & Associated Properties shares closed down 4.2% at 46.00 pence on Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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