24th Jan 2012 07:00
NEWS RELEASE
24 January 2012
Sweett Group plc
("Sweett Group" or "the Group")
Disposal of investment
Sweett Group, the international property and construction consultancy, announces that it has entered into a pre-paid option agreement for the conditional disposal by its subsidiary company Cyril Sweett Investments Limited of its 19% interest in the equity of E4i Holdings Limited and loan notes in its subsidiary company, E4i Schools Limited, the owner of the Inverclyde Schools PFI project. The consideration of £2,192,860, payable immediately in cash, will initially be used to reduce borrowings before being applied to future investments.The option is expected to be exercised by 23 June 2012.
- ENDS -
For further information:
Sweett Group plc Dean Webster, Chief Executive Officer Chris Goscomb, Chief Financial Officer | 020 7061 9000
|
Theo Kjellberg, Group Communications Manager |
|
Arbuthnot Securities Andrew Kitchingman Paul Gillam
| 020 7012 2000
|
Financial Dynamics Billy Clegg Oliver Winters | 020 7831 3113 |
Notes to Editors
About Sweett Group plc
Sweett Group is a leading international construction and property consultancy offering expertise in cost consultancy, project management, building surveying and a comprehensive range of specialist consulting services.
Sweett Group was founded in 1928 and employs over 1,200 people in offices across Europe, the Middle East, North Africa, India, Sri Lanka, Asia Pacific and Australia.
For more information on Sweett Group, please visit www.sweettgroup.com.
Related Shares:
CSG.L