Does enybody know how many shares GPg held. Maybe this is what has keep the price down.
GUINNESS PEAT GROUP PLC
(“GPG” or the “Company”)
Investment Portfolio Update
GPG announces that it has sold its 100% owned subsidiary, Gosford Quarry Holdings Pty Limited, to All Australian Sandstone Pty Limited and has received cash proceeds of A$13.7 million (£8.8m) (subject to settlement adjustments) as a result of this divestment. GPG has retained Gosford Quarry’s Sydney property, which is surplus to the business and has redevelopment potential, for disposal at a future date.
GPG also announces that it has now completely divested its shareholdings in Metals X Limited, GME Resources Limited, Nationwide Accident Repair Services plc, Sysmedia Group plc and Touch Holdings Limited. Since 30 September 2012, GPG has received total cash proceeds of £9.9m in relation to these divestments. In addition to this sum, loan repayments and potential contingent consideration are due to be received during the course of 2014 in respect of the Touch sale.
Total cash proceeds of £18.7m have been received in relation to all of the above transactions.
GPG will continue to keep shareholders informed of further developments in relation to its investment portfolio.
MLX Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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