25th Mar 2008 07:01
Judges Capital PLC25 March 2008 25 March 2008 Judges Capital Plc ("Judges Capital" or the "Company") Relocation of Aitchee via freehold property purchase Judges Capital is pleased to announce that it has exchanged contracts for thepurchase of the freehold of Unit 18, Charlwoods Road, East Grinstead, WestSussex, a property that adjoins the Fire Testing Technology ("FTT") factory. Thepurchase is being made from a third party. The 8,500 sq ft building is being purchased for £490,000, while costs associatedwith refurbishment and the relocation of the Aitchee operation are estimated at£100,000. The surplus office area and a small proportion of the industrial spacewill be marketed for rent. It is anticipated that the purchase will be completedon 1 April 2008 and the premises move is expected to take place in June 2008. David Cicurel, Chief Executive of Judges Capital, commented: "The purchase ofUnit 18 fulfils our objectives at the time of the acquisition of Aitchee inSeptember 2006, namely the relocation of operations into more appropriatepremises as close as possible to FTT. We are confident that this developmentwill enable Aitchee to expand its sales and enhance its co-operation with FTT." The property purchase will be financed through the Company's relatively largeunused cash balances. It is the Board's intention to put a commercial mortgagein place as and when the Company requires further funds to facilitate itsacquisition programme. Press enquiries: David Cicurel, CEO, Judges CapitalTel: 01342 323 600 Pascal Keane, Shore CapitalTel: 020 7408 4090 Melvyn Marckus, Cardew GroupTel: 07775 896 491 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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