4th Jan 2007 07:00
Workspace Group PLC04 January 2007 WORKSPACE COMPLETES CONVERSION TO A REAL ESTATE INVESTMENT TRUST STATUS Workspace Group PLC ("Workspace") the leading provider of flexible businessaccommodation to small and medium sized enterprises in London and the SouthEast, confirms that it has converted to a Real Estate Investment Trust (" UK-REIT") . At an Extraordinary General Meeting held on 15 December 2006 Workspaceshareholders approved amendments to the Company's articles of association, toenable the Company to change its status. The Company then applied to HM Customsand Revenue to become a UK-REIT from 1 January 2007. Harry Platt, Chief Executive of Workspace commented, " I am delighted to report that we have now converted to a Real EstateInvestment Trust. We are confident that this will improve our appeal amonginvestors who want to invest in our specialist niche in the property sector. TheGroup's focus and strategy in developing its business will be unaffected by thischange. However the tax efficient nature of a UK-REIT will enable the Board toenhance the dividend payment in the future. " The Group continues to make very good progress. Our market place remainsrobust and we have an experienced team to drive the business forward. The futurefor Workspace is excellent." -ends- Date: 4 January 2007 For further information: Workspace Group PLC cityPROFILEHarry Platt, Chief Executive Simon CourtenayMark Taylor, Finance Director 020-7448-3244020-7247-7614 web: www.workspacegroup.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Workspace