LXB Retail Confirms Dissolution Returns Below Previous Guidance

LONDON (Alliance News) - LXB Retail Properties PLC said Monday its return of capital to ...

Alliance News 20 May, 2019 | 1:21PM
Email Form

LONDON (Alliance News) - LXB Retail Properties PLC said Monday its return of capital to shareholders following its dissolution is expected to be about GBP2.0 million, about 1.2 pence per share.

In April, the company warned the expected return to shareholders would be lower than the GBP3.4 million previously announced.

LXB Retail said it has sold or transferred its remaining subsidiaries, resulting in a "fundamental change of business", according to AIM rules. As a result, the investment company's shares will be suspended.

LXB Retail transferred its Kingsmead investment to IW Group and sold its Rushden and Skew Bridge investments to Blizzard Estates Ltd for GBP697,619.

Shares in LXB Retail Properties were down 7.5% Monday at 1.02 pence each.

The company will now seek dissolution from a Jersey court and expects its shares to be cancelled on May 31.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
LXB Retail Properties Ord

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies