Aukett Swanke (GB:AUK) has released an update.
Aukett Swanke Group PLC has announced the conditional sale of The Old Torpedo Factory for £2.5 million plus VAT, with the intention to use the proceeds to repay a mortgage and a CBILS-backed loan, and bolster working capital. The sale, expected to finalize in September 2024, is set to result in an accounting loss for the company. CEO Nick Clark expresses optimism for the company’s focus on smart buildings and future growth despite the lower-than-expected sale price.
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