MJ Gleeson To Buy Cumbria Land From North Atlantic Smaller Investee

LONDON (Alliance News) - Housebuilder MJ Gleeson PLC said on Thursday it has agreed to acquire ...

Alliance News 2 May, 2019 | 11:49AM
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LONDON (Alliance News) - Housebuilder MJ Gleeson PLC said on Thursday it has agreed to acquire 9.9 acres of development land in Cumbria for GBP1.2 million from Hampton Investment Properties Ltd.

Fund manager North Atlantic Smaller Cos Investment Trust PLC currently holds a majority interest in Hampton.

The acquisition, worth GBP8,823.53 per plot, is considered a substantial property transaction and is conditional on shareholder approval and the receipt of planning permission.

Shares in MJ Gleeson were down 1.4% at 826.00 pence, while North Atlantic Smaller shares were down 0.3% at 2,930.0p on Thursday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
North Atlantic Smaller Cos Ord 2,800.00 GBX 1.82 -
MJ Gleeson PLC 716.73 GBX -1.28 -

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