28 April 2021
Caledonian Trust plc
("Caledonian Trust" or the "Company")
Completion of sale of Ardpatrick Estate
Further to the announcements released by the Company on 16 December 2020, 25 March and 31 March 2021, Caledonian Trust, the Edinburgh-based property investment holding and development company, announces that the sale of Ardpatrick Estate for a cash consideration of £2.7 million (exclusive of VAT) completed on 27 April 2021.
The Company has received the cash consideration in full. The Company intends to use the net proceeds from the sale to provide funding for the Company's existing property development programme, repay certain existing debt and provide general working capital.
Further details on Ardpatrick Estate and the disposal can be found in the Company's announcements released on 16 December 2020 and 25 March 2021.
Enquiries:
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| Caledonian Trust plc |
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| Douglas Lowe, Chairman and Chief Executive Officer | Tel: 0131 220 0416 |
| Mike Baynham, Finance Director | Tel: 0131 220 0416 |
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| Allenby Capital Limited (Nominated Adviser and Broker) |
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| Nick Athanas Alex Brearley | Tel: 0203 328 5656 |
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