25th Jan 2016 15:23
LONDON (Alliance News) - Pinewood Group PLC Monday said it has made GBP750,000 after agreeing to surrender the Technicolor lease.
The film studio said it has accepted a surrender of the Technicolor lease, which gave Technicolor a break clause in 2018, for a premium satisfied by way of a cash payment totalling GBP1.6 million.
Pinewood estimates the net income from the lease surrender premium to be GBP750,000, which will be recognised in the current financial year to the end in March.
No other details were released by Pinewood.
Pinewood shares were trading up 0.3% to 422.23 pence per share on Monday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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