30th Nov 2005 07:01
Conygar Investment Company PLC(The)30 November 2005 30 November 2005 THE CONYGAR INVESTMENT COMPANY PLC ("CONYGAR") ACQUISITION OF INTEREST IN MARINA DEVELOPMENT COMPANY The Board of Conygar is pleased to announce the acquisition of 50 per cent. ofthe share capital of Martello Quays Limited ("Martello") for a nominal sum.Martello, which is a partnership between Conygar, Welsh based developers andVinci Project Development Limited, a Vinci PLC subsidiary, has been appointed aspreferred developer by a client group comprising Pembrokeshire County Council,the Welsh Development Agency, the Crown Estate and The Milford Haven PortAuthority to obtain planning permission and develop an area known as PembrokeDock Waterfront. Norwest Construction Limited, another Vinci PLC subsidiary,has been nominated as the main contractor for the development. It is anticipated that the planning application, which will be submitted nextyear, will include: 250 Houses 200 Apartments Factory Outlet Chandlery Shop Hotel Five Screen Multiplex Cinema Pub / Restaurant / Shops 300 Marina Berths 250 Marina Car Park Spaces Cruise Liner Berth Conygar has committed to fund the planning application costs which will be metfrom existing resources and which are anticipated not to exceed £350,000.Additional funding and development partners will be introduced as the schemeprogresses. Assuming the planning application is successful, it is anticipatedthat the completed development will have an end value estimated to be in excessof £100 million. For further information please contact: The Conygar Investment Company PLC Robert Ware - 020 7725 0360Steven Vaughan - 020 7725 0360 The directors of Conygar accept responsibility for the information contained inthis announcement. To the best of the knowledge and belief of the directors ofConygar (who have taken all reasonable care to ensure that such is the case) theinformation contained in this announcement is in accordance with the facts anddoes not omit anything likely to affect the import of such information. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Conygar Inv