2nd Oct 2006 07:01
Asfare Group plc02 October 2006 Press Release 2 October 2006 Asfare Group plc ("Asfare" or "the Company") Property Sale for £1.3m and Leaseback Concluded Asfare Group plc, a leading supplier of products and services to the emergencyand homeland security markets is pleased to announce that it's wholly ownedsubsidiary, Todd Research Limited, has sold its' freehold property in Chelmsfordfor £1.3m. The property was part of the original assets of Todd Research Limitedwhose shares were acquired in November 2005 for a consideration of £1.65m. Thefunds from the sale will reduce the current debt levels in the business. Simultaneously an agreement has been signed to leaseback part of the building.The reduced requirement for space reflects the outsourcing by Todd Research ofthe metal box build capability which was previously undertaken at Chelmsford. - Ends - For further information, please contact: Enquiries:Asfare Group plc www.asfare.comTony O'Neill, Chief ExecutiveTim O'Connor, Finance Director Tel: +44 (0) 2380 861 966 Seymour PierceMark Percy Tel: +44 (0) 20 7107 8000 Media enquiries:Abchurch CommunicationsCharlie.jack Tel: +44 (0) 20 7398 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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