30th Jun 2006 13:38
Pendragon PLC30 June 2006 FOR IMMEDIATE RELEASE 30 JUNE 2006 PROPERTY DISPOSAL AND TRADING UPDATE Pendragon PLC is pleased to announce the disposal of its vacant dealership sitein Solihull. As a consequence of gaining permission for change of use, Pendragonhas been able to realise an exceptional profit on disposal of £10.0 million. Thetotal cash proceeds were £16.1 million and will be used to reduce borrowings. We noted in our AGM statement at the end of April that trading across thePendragon Group has been in line with our expectations and this continues to bethe case. The integration of Reg Vardy is continuing in line with our plan and afurther update on this will be given along with our Interim Results which willbe announced on 7 August 2006. For further information, please contact: Pendragon PLC Trevor Finn, Chief Executive Tel: 01623 725114 David Forsyth, Finance Director Finsbury Rupert Younger Tel: 0207 2513801 Patrick Allerton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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