Investors in Amicrest (AMI:PLUS) may be wondering why the promised sale of the company’s Tib Street property in Manchester has not yet completed. At the recent AGM chairman Gerry Lee said the sale was due to complete by the end of September.

But management insists the transaction is still on and says completion is now due at the end of October. Amicrest has long been the focus on rebel shareholders demanding the 0.6-acre Tib Street site be disposed of. Led by private investor David MacMullen the rebels had fiercely opposed plans to develop the site into an eight-story office block believing that the development strategy was too risky.