Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Universal Salvage (UVS)

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Wednesday 24 August, 2005

Universal Salvage

Announces Lease and Option Agreement

24 August 2005

                              UNIVERSAL SALVAGE PLC

                     Announces Lease and Option Agreement on
                          Site at Mitchell Road, Corby

Universal announces that its wholly owned subsidiary company, Userve Limited
("Userve"), has entered into a ten year lease and an option agreement on its
former auction site in Corby ("the Property") with Greatline Developments
Limited ("the Purchaser").

The commencing rental of the lease is £256,000 per annum, reviewable on the
anniversary of the lease in each year of the term and increased in line with the
Retail Price Index.

The Property was previously used by the Group as a salvage auction branch and
had been let on short term arrangements since being mothballed in August 2002 as
surplus to Company operational requirements.

The Option Agreement entered into by Userve, Greatline Developments Limited and
National Westminster Bank grants an option to the Purchaser, on payment of an
upfront fee of £160,000, to purchase the Property during the period commencing
on 23 August 2010 and expiring on 22 August 2012 ("the Option Period") for an
amount, in cash, calculated in accordance with the following formula:

(£3,200,000 x A) - £160,000   ("the Price")

A =     the Index figure for the month immediately preceding the date of the notice to exercise the
B =     the Index figure for the month preceding the date of the Agreement

The Price will be subject to an overall cap of £8 million.

Userve has also granted to the Purchaser a pre-emption right to buy the Property
at the Price if Userve wishes to sell the Property within the period starting on
the commencement date of the lease and ending on the fifth anniversary
thereafter ("the Pre-emption Period"). If the Purchaser exercises its right of
pre-emption, it must do so within 20 days of Userve issuing notice of its
intention to sell and the Purchaser then has a further 90 days in which to
complete the purchase.

If the Purchaser fails to exercise its right of pre-emption, Userve may sell the
Property at arm's length on commercial terms to a third party for a price which
is not less than the Price at any time within a period of 9 months after the
date of Userve issuing notice of its intention to sell the Property to the
Tenant provided that if no such sale to a third party is made within the said
period of 9 months then the pre-emption will continue in full force and effect.

The gross value of the property in the accounts of the Company is £2.6m.

The proceeds of any sale of the property, when received, would be used to reduce
bank borrowings, if any, or to provide additional working capital to the group.


Universal Salvage plc     Anne Thomas                Company Secretary         01234 762283
                          Andrew Somerville          Group Finance Director    01234 762283

Biddicks                  Katie Tzouliadis                                     020 7448 1000                                                                                                                                                                 

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