Gresham Carat Hotel
28 Novembro 2003 - 2:48PM
UK Regulatory
RNS Number:6511S
Gresham Hotel Group Plc
28 November 2003
GRESHAM HOTEL GROUP PLC
Statement Re : Gresham Carat Hotel
Gresham Hotel Group plc. ("the Company") announces that it has completed the
repurchase of The Gresham Carat Hotel ("the Hotel"), which is located in
Hamburg, Germany.
The Company originally entered into a Sale and Leaseback transaction in 1993
whereby the Hotel was sold for Euro8.5 million, with an obligation to repurchase
the Hotel after a 10 year period for the same amount.
Of the initial sales proceeds Euro3.9 million was placed on an interest bearing
deposit account, which amounted to Euro8.2 million at the expiry of the 10 year
period and was utilised to fund this obligation.
Patrick Coyle, Chief Executive, Gresham Hotel Group plc 353 1 8176209
Robert Bastow, Finance Director, Gresham Hotel Group plc 353 1 8176209
Peter Coyne, AIB Corporate Finance Limited 353 1 6670233
Fiona Gillespie, Communications Consultant 353 87 2502447
This information is provided by RNS
The company news service from the London Stock Exchange
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