23rd Feb 2006 16:01
Pennant International Group PLC23 February 2006 For Immediate Release 23 February 2006 Pennant International Group plc (the 'Company') Conditional sale of Southampton property The Company today announces that it has exchanged contracts for the conditionalsale of the Company's Southampton property. The property that is no longersuitable for the Company's requirements has a book value of £372,500. The sale is conditional upon the purchaser being able to obtain satisfactoryplanning permission within 9 months of the date of exchange. The agreed sale price is £721,000, in cash, increased by £26,000 for each unitof residential accommodation for which planning is granted in excess of 22units. On completion, the business currently carried out from these premises will betransferred to more suitable rented accommodation. An update will be provided in due course. Enquiries: Pennant International Group plcJohn Waller, Finance Director.Tel: 01452 714881 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Pennant International