Source - RNS
RNS Number : 4839K
Dukemount Capital PLC
11 April 2018
 

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

 

 

 

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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