Pennant International Group PLC - Cheltenham, England-based systems support, technical services and training company - Disposes of unit D at its Staverton site for £830,000, as part of its ongoing streamlining within the group’s Training division. Says the 6,000 square foot warehouse at the site will be vacated when the disposals have completed. Proceeds will go towards reducing the group’s overdraft borrowings, and Pennant expects to realise a small gain against the book value at December 31 after transaction expenses, resulting in additional borrowing headroom.
This sale follows Pennant’s disposal of three other units, for a total of £1.2 million, which are expected to complete during the first quarter of 2025.
Current stock price: 28.94 pence, up 5.2% in London on Monday afternoon
12-month change: down 6.7%
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