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Beale PLC Updates on Tonbridge Store Lease


Thursday, 25 Apr 2013 02:01am EDT 

Beale PLC announced that the Company's trading subsidiary, J E Beale plc (J E Beale), has signed a conditional agreement with Sainsburys which may give rise to the possible future surrender of the lease of its Tonbridge store. On signing of the agreement, J E Beale receives GBP 1,000,000. The transaction is conditional on certain pre-conditions being satisfied within a six year period. If these conditions are satisfied then J E Beale will be obliged to surrender the lease of its Tonbridge store to Sainsburys. Upon completion J E Beale would receive a surrender premium of up to GBP 3,000,000. 

Company Quote

13.125
0.0 +0.00%
17 Sep 2014