11 April 2018
Dukemount Capital Plc
("Dukemount" or the "Company")
Value of Second Acquisition Potentially Enhanced
Dukemount Capital plc (LSE:DKE), the long-dated income provider and property management company announces that following discussions with a preferred housing association, an opportunity has arisen to further enhance the property to the benefit of both parties.
The Board have accepted a recent proposal from the chosen housing association to increase the number of rooms and add some office space in the property. This will increase the rental chargeable by the Company and receivable by the Housing Association. This has in turn involved discussions with the Architect on changes to the refurbishment project and accordingly the Company has sought and been granted a further extension of the option by the vendor for an additional two-month period.
Dukemount Executive Chairman Geoffrey Dart said, "While the added refurbishment work can increase the timeline and cost on this project, the increase in rental value of the property will work out to the benefit of the Company and the Housing Association immediately the property is ready for occupation.
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 |
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Walbrook PR (Media and Investor Enquiries |
Tel: +44 (0) 207 933 8780 |
Paul Cornelius / Gary Middleton |
[email protected] |
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Optiva Securities Ltd |
Tel: +44 (0) 203 137 1906 |
Christian Dennis - Corporate Broker |
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Jeremy King - Corporate Broker |
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Peterhouse Corporate Finance Limited |
Tel: +44 (0) 207 469 0930 |
Lucy Williams/Duncan Vasey |
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