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Dukemount Capital (DKE)

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Friday 09 February, 2018

Dukemount Capital

Update on Proposed Second Acquisition

RNS Number : 3871E
Dukemount Capital PLC
09 February 2018
 

9 February 2018

Dukemount Capital Plc

("Dukemount" or the "Company")

Update on Proposed Second Acquisition

Dukemount Capital plc, the property management and long dated income provider announced in October that due diligence on the second acquisition in North West England had been completed and that a four-month option to buy had been signed while it concluded discussions with housing associations.

The board are in advanced talks with one housing association and to facilitate the conclusion of these talks in an efficient manner we have been granted an extension of the option by the vendor for a further two-month period.

Dukemount Executive Chairman Geoffrey Dart said, "While we anticipate that these talks with the housing association will be concluded soon, the end of the original option is approaching. We felt it prudent to get an extension to the option-to-buy agreement with the vendor while we work out a deal which works for Dukemount and the housing association.  The next stage in the process is to present to the housing association, the plans for the refurbishment of the building in order to reach an agreement on the specific requirements for their tenants.

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

[email protected]



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


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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