30th Apr 2015 11:24
LONDON (Alliance News) - Public Service Properties Investments Ltd Thursday said it is due to be paid a further GBP2.5 million in connection with the completion of the sale of its UK companies, businesses and assets to Embrace Group Ltd in March.
The deferred payment is set to be made because Embrace said it was successful in tendering for ongoing domiciliary care contracts in Liverpool, England.
Public Service Properties Investments sold the nine UK care home freeholds, office premises, a school and resource centre and domiciliary care and related businesses for an initial GBP14.2 million in cash after debt repayment, taxation and transaction costs.
Shares in the company were up 7.2% at 28.95 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
PSPI.L