Logistics Development Group plc
(the “Company” or “LDG”)
Receipt of a further cash payment in respect of the disposal of GWSA
Logistics Development Group plc, the AIM investing company, announces that it has received an additional payment of £2.2 million in connection with the disposal of Greenwhitestar Acquisitions Limited (“GWSA”), originally announced on 1 July 2021. LDG has to date received total net cash proceeds of £127.5 million in respect of the disposal of GWSA, including repayment of the £6 million investment in the related PIK loan note.
As at the date of this announcement, LDG holds no material investment assets, is debt free and has an available cash balance of approximately £134.5 million (approximately 19.12 pence per share).
The Company’s Investment Manager, DBAY Advisors Limited, continues to review a number of investment opportunities, and the Board and Investment Manager remain committed to generating attractive investment returns for shareholders.
FTI Consulting +44 (0) 20 3727 1340
Alex Le May
Strand Hanson Limited +44 (0) 02 7409 3494
(Financial and Nominated Adviser)
Investec Bank plc +44 (0) 20 7597 5970