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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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.

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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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Renew Holdings PLC (RNWH)

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Wednesday 21 August, 2013

Renew Holdings PLC

Exceptional Items in 2013 Results

RNS Number : 1401M
Renew Holdings PLC
21 August 2013

21 August 2013


Renew Holdings plc

("Renew" or the "Group")


Exceptional Items in 2013 Results


Exceptional Items in 2013 Results


The Board is announcing three material exceptional items which will impact the Group's results for the year ending 30 September 2013. These comprise the sale of land in the UK, the write down of land assets held in the USA and a provision in respect of previously closed Building businesses. Details of these items are set out below.


The combined impact of these items is that the Group will recognise an exceptional net gain before taxation of £1.3m in its 2013 results with the receipt of £11.0m of cash. The Group will use this cash to eliminate short term borrowings used to finance its recent acquisition of Lewis Civil Engineering Limited and will retain the balance for general corporate purposes. The Board anticipates that the Group will show a net cash position at 30 September 2013.


Land Assets


The Board is pleased to announce that it has sold 71 acres of land near Rugby for employment land use for a net sum after overage payments of £11.0m resulting in an exceptional profit of £9.4m. The Board anticipates that tax on this profit will be fully relieved by brought forward losses.


In the USA, the Group has 3 remaining property assets where delays due to economic conditions have led to detailed planning and zoning agreements expiring. Outline permissions remain, however forthcoming changes to state and county regulations will require new applications to be made with the expectation of reductions in allowable building density. The Board commissioned an independent review of the Group's US property assets and has decided to write down the carrying value of these assets in light of these new requirements and current market conditions by £5.2m to £2.7m.


Closed Building Businesses


Following the previous closure of certain regional Building businesses, the Board has decided to make an exceptional provision of £2.9m against certain contract costs which are expected to be unrecoverable. These costs, which have already been expended, are due primarily to the insolvency of certain subcontractors.


Current Trading


Current trading is in line with market expectations and the Board expects to issue a further statement on Monday 30 September prior to the announcement of the Group's preliminary results for the year ending 30 September 2013 on Tuesday 21 November 2013.



Renew Holdings plc

                      Tel: 0113 281 4200

Brian May, Chief Executive

John Samuel, Group Finance Director

Numis Securities Limited

                      Tel: 020 7260 1000

Stuart Skinner (Nominated Adviser)

James Serjeant (Corporate Broker)

Walbrook PR

                      Tel: 020 7933 8780

Paul McManus (Media Relations)

Mob: 07980 541 893 or [email protected]

Paul Cornelius (Investor Relations)

Mob: 07827 879 496 or [email protected]


About Renew Holdings plc


Engineering Services, which now accounts for over 70% of Group revenue and 80% of operating profit, focuses on the key markets of Energy (including Nuclear), Environmental and Infrastructure, which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.


Specialist Building focuses on the New Build Affordable Housing and High Quality Residential markets in the South of England.


For more information please visit the Renew Holdings plc website:



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

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