30th Dec 2015 07:26
LONDON (Alliance News) - LXB Retail Properties PLC on Wednesday said it will return more than initially expected to shareholders from the sale of its investment at Brocklebank in Greenwich, south London.
LXB completed the sale of the assets to The Charities Property Fund last week and has now received GBP22.8 million in cash for the sale.
The group, announcing the sale earlier in December, said it anticipated it would return up to GBP16.0 million to shareholders. But following the completion of the sale and a review of its current cash requirements, LXB now expects to return GBP18.0 million via a share buyback.
By Sam Unsted; [email protected]; @SamUAtAlliance
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