Toye & Co PLC Variation Agreement re: 19-21 Great Queen Street (7872L)
09 Juli 2014 - 8:00AM
UK Regulatory
TIDMTOYE
RNS Number : 7872L
Toye & Co PLC
09 July 2014
TOYE & COMPANY PLC
(AIM: TOYE)
Variation Agreement re: 19-21 Great Queen Street
Toye & Co plc ("Toye" or the "Company"), the manufacturer of
military and masonic regalia, medals, badges and related textiles,
announces that it has successfully negotiated a variation to the
disposal agreement in relation to the Company's property at 19-21
Great Queen Street (the "Property") entered into with Stability
Investments Limited (the "Developer") and approved by Shareholders
in February 2013.
Under the terms of the variation the completion date for the
sale of the Property has been extended from 28 July 2014 to 30
January 2015. In addition the loan facility agreement agreed with
the Developer has been increased from GBP2.5m to GBP2.75m. The
balance of this loan facility not drawn down is GBP0.75m which will
now be drawn down on 28 July 2014. Finally the clause in the
original agreement that would, having satisfied certain criteria,
see the basic sale price of the Property increase by GBP0.5m has
been extended to 19 December 2014.
There has therefore been no change to the overall consideration
to be received in respect of the Property and no further interest
will be payable on the loan from 28 July 2014.
The Company intends to use the balance of the loan facility to
fund additional capital expenditure requirements and the working
capital needs of the business.
Contacts:
Toye & Company plc www.toye.com
Fiona Toye, Chief Executive +44 (0) 20 7242 0471
WH Ireland Limited www.wh-ireland.co.uk
Mike Coe, Ed Allsopp +44 (0) 117 945 3470
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUWONRSWABRAR
Toye & Co (LSE:TOYE)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Toye & Co (LSE:TOYE)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
Echtzeit-Nachrichten über Toye & Co. (Londoner Börse): 0 Nachrichtenartikel
Weitere Toye & Co News-Artikel