26th Oct 2015 07:00
Market Tech Holdings Limited
("Market Tech" or the "Company")
Notice of Interim Results, Real Estate Highlights and Main Market move update
Notice of Interim Results
Market Tech Holdings Limited (AIM: MKT), the holding company that combines 14 acres of London real estate assets, including the iconic main Camden markets, with a technology and e-commerce business, will release its interim results for the six months ended 30 September 2015 on Thursday 3 December 2015.
Real Estate Highlights
Market Tech is pleased to announce that:
· It has acquired the freehold of 49 Chalk Farm Road, Camden, NW1 8AN for a purchase price of £5.2 million (including stamp duty of £200,000) and with an initial yield of 4.62 per cent.
· The Hawley Wharf development continues to progress as expected. Demolition has now been completed on the majority of the site and piling works have commenced.
· The primary school, part of the Hawley Wharf development, being built by specialist contractor McLaughlin & Harvey, is ahead of scheduled delivery for the start of the 2016 academic year and the majority of the concrete shell construction is complete.
· The first phase of the innovative co-working Interchange concept, currently under development at Utopia Village, Atrium and Triangle buildings in Stables Market, has been successfully launched with the initial Tom Dixon-designed workspace in the Triangle now majority let.
· A detailed planning application for the Camden Lock Market re-development has been submitted and is expected to be considered by the local authority planning committee before the end of 2015.
Main Market move update
Market Tech advises that, further to previous announcements, it is continuing to seek admission of its ordinary shares to the Official List and to trading on the Main Market of the LSE. The Company will make further announcements as the process continues to progress.
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Enquiries
Market Tech Charles Butler, Chief Executive Officer Andrew Bull, Chief Financial Officer c/o Bell Pottinger
| +44 (0) 20 3772 2500 |
Shore Capital - Nomad and Joint Broker Dru Danford Toby Gibbs
| +44 (0) 20 7408 4090 |
Canaccord Genuity Limited - Joint Broker Bruce Garrow Chris Connors Mark Whitmore
| +44 (0) 20 7523 8000 |
Bell Pottinger David Rydell Olly Scott David Bass James Newman
| +44 (0) 20 3772 2500 |
About Market Tech
Market Tech combines the iconic Camden Market real estate assets with an e-commerce business operated through online platforms camdenmarket.com and market.com. Its real estate assets business is focused on retail, work-space, leisure and entertainment. The Company owns approximately 14 acres of real estate assets in Camden, including the Stables Market, Union Street Market, (also known as Buck Street Market), Camden Lock Market, and Hawley Wharf (also known as Camden Lock Village). It also owns separate real estate assets on Camden High Street; Hawley Crescent, Kentish Town Road; properties on Jamestown Road, (including the Camden Wharf Building); The Interchange Building on Oval Road and Utopia Village in Primrose Hill.
The Company also owns two e-commerce businesses, enhancing its online platform; Stucco Media, an e-commerce marketing platform; and Glispa, a Berlin-based mobile marketing business.
www.market-tech.com
Related Shares:
MKT.L