29th May 2007 07:03
Xansa PLC29 May 2007 29 May 2007: embargoed for 7.00am Xansa India - Real estate framework agreement Xansa announces that it has entered into a legally binding framework agreementwith Alpha Tiger Property Trust Ltd to effect the sale and leaseback of Xansa'sreal estate interests in India. The agreement also appoints Alpha Tiger, whichinvests in and develops Indian real estate, as Xansa's preferred provider inIndia. This agreement is conditional, inter alia, on local and centralgovernment approvals, including Special Economic Zone (SEZ) notification and isexpected to be completed in phases. The proceeds of the transaction, which are expected to be up to £35 millionbefore expenses and taxes, will be used to reduce Group net debt. This agreement will enable Xansa to crystallise the value inherent in its realestate portfolio in India. It establishes a strategic relationship with a localreal estate partner who will provide best-in-class management of the propertiesand will enable Xansa to grow its presence in India with greater flexibility,speed and at lower risk. Through this initiative, Xansa will maintain itscommitment to first class service delivery to its clients and continue toprovide a superior workplace environment for its staff. Alistair Cox, Chief Executive of Xansa commented: "We have developed our own properties in India over the past 10 years as it hasbeen difficult to find suitable, specialist facilities. This outsourcingarrangement with Alpha Tiger will provide an excellent solution to our currentand future real estate requirements in India, whilst freeing up capital andresource to focus on the further development of our core business." Contacts Gordon Stuart Giles Sanderson, James Melville-RossFinance Director, Xansa Financial DynamicsTel : + 44 (0)8702 416181 Tel : + 44 (0)20 7831 3113 About Xansa Xansa is a UK-based outsourcing and technology company with over 8000 people inthe UK and India. With a 45-year history of sustaining long-term relationships and pioneeringbetter ways of working, Xansa drives real and long-term cost reductions andperformance improvements. Committed to delivering guaranteed business outcomesthrough a combination of technology and process expertise, Xansa gives clientsacross the private and public sectors the freedom to do more. Xansa is listed on the London Stock Exchange (XAN.L) with revenues for 2006 of£357.3 million. Further information on Xansa can be found at: www.xansa.com About Alpha Tiger Property Trust Limited Alpha Tiger is a Guernsey registered closed-ended investment company investingin and developing Indian real estate. It floated on AIM in December 2006,raising £75m. The investment manager is Alpha Real Capital LLP, an international property fundmanagement group with operations in India and other international real estatemarkets. Further information is available at www.alphatigerpropertytrust.com. About Alpha Real Capital LLP Alpha Real Capital is a value-adding international property fund managementgroup with operations in the Indian and other international real estate markets. Alpha Real Capital was established by Phillip Rose and Sir John Beckwith. Alpha Real Capital is the Investment Manager to Alpha Tiger. Alpha RealCapital's Indian CEO, Brad Bauman is Fund Manager to Alpha Tiger. He has 18years' experience in the real estate and finance industries, and has beenresponsible for Alpha Real Capital's Asian investment programme since 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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