Joint Venture With Rascasse Developments

RNS Number : 4935Z
Dukemount Capital PLC
03 September 2018
 

03 September 2018

Dukemount Capital Plc

("Dukemount" or the "Company")

Joint Venture with Rascasse Developments Ltd

Dukemount Capital plc, the long-dated income provider and property management company is pleased to announce that it has entered into a 50/50 joint venture with Rascasse Developments Ltd to create DKE (Midlands)Ltd

The joint venture company will be owned equally between Dukemount Capital Plc and Rascasse Developments Ltd (Rascasse) and has been set up to facilitate expansion of the property portfolio. The directors of the joint venture are Lynn Waldron, Darryl Eales, Geoffrey Dart and Alfred Long. Rascasse has substantial experience in developing property within the Midlands. Dukemount brings its experience and knowledge of the supported living sector as well as institutions wishing to enter this important sector for their long-term income needs.

Dukemount Executive Chairman Geoffrey Dart said, "Lynn and Darryl bring a wealth of development expertise in the Midlands property sector where there is a lot of opportunity for Dukemount. Alfred has been working with Dukemount for some time and has been instrumental in the creation of this joint venture. Progress continues on the first 2 projects and updates will be made when appropriate".

Market Abuse Regulation (MAR) disclosure

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

 For further information, please contact:

Dukemount Capital Plc

Tel: +44 (0) 7874 762 821

Timothy Le Druillenec




Walbrook PR (Media and Investor Enquiries

Tel: +44 (0) 207 933 8780

Paul Cornelius / Gary Middleton

dukemountcapital@walbrookpr.com



Optiva Securities Ltd

Tel: +44 (0) 203 137 1906

Christian Dennis - Corporate Broker


Jeremy King - Corporate Broker




Peterhouse Corporate Finance Limited

Tel: +44 (0) 207 469 0930

Lucy Williams/Duncan Vasey


 


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