5 May 2010
SOVEREIGN REVERSIONS PLC
("Sovereign" or the "Company")
UPDATE ON FINANCING AND TRADING
The Company has received confirmation of bank credit committee approved for the extension of its loan facility due to expire in June 2010 by a further two years. This approval is subject to formal documentation.
In the financial year to 30 April 2010, proceeds from the sale of investment properties and shared equity loans exceeded £6.9m, an increase of 53% over the year to April 2009. 68 properties were vacated, compared with 60 in the previous year. The Company has invested less than £0.5m in home reversion plans during the year.
Enquiries:
Charles Stanley Securities, corporate broker | Tel: 020 7149 6000 |
Dugald Carlean / Ben Johnston |
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Graeme Marshall, Chief Executive, Sovereign Reversions plc | Tel: 01234 356300 |
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Wriglesworth Consultancy John Wriglesworth/Tom Urpeth | Tel: 020 7427 1400 |
RNS news service provided by Hemscott Group Limited.