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Quintain Estates And Development Plc Agrees The Disposal Of Sequel Regional Investment Property Business

Wednesday, 2 Oct 2013 10:02am EDT 

Quintain Estates and Development PLC announced that contracts have been conditionally exchanged with Palace Capital plc, an AIM-quoted company, regarding the sale of Quintain Signal Member A Ltd, the owner of the SeQuel regional property portfolio, along with an additional property, Gelderd Point in Leeds. The Proposed Disposal is conditional upon approval by Palace Capital's shareholders at a general meeting to be held on October 18, 2013 and the completion of a GBP23.5 million placing by Palace Capital to part-fund the acquisition. The agreed purchase price for Quintain's interest1 in the business is GBP39.05 million with normal adjustments for working capital. 

Company Quote

1.75 +1.75%
17 Apr 2014