5th Mar 2015 12:29
LONDON (Alliance News) - MJ Gleeson PLC Thursday said it has been informed that GB Group Holdings Ltd, a property and construction services provider in which the company holds a 25% stake, has said it intends to appoint administrators, putting MJ Gleeson's investment at risk.
MJ Glesson, which focuses on urban housing regeneration and land trading, said its GBP4.9 million investment in GB Group Holdings "is now considered at risk," and said any subsequent write down will be recorded as an exceptional, non-cash, item in the company's results for the current year to end June 30.
MJ Gleeson shares were down 2.0% to 354.00 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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