Peterborough property: sale & leaseback agreement
3/29/2016
Hayward Tyler Group | Peterborough property: sale & leaseback agreement | FE InvestEgate
Hayward Tyler Group
Peterborough property: sale & leaseback agreement RNS Number : 3267T Hayward Tyler Group PLC 29 March 2016
29 March 2016
Hayward Tyler Group plc
("Hayward Tyler", the "Company" or "Group")
Peterborough property sale and leaseback agreement Further to the announcement of the acquisition of Peter Brotherhood on 12 October 2015, the directors of Hayward Tyler Group plc (AIM: HAYT.L), the specialist engineering group, are pleased to announce the completion of the sale and leaseback of its 11.5 acre Peter Brotherhood site in Peterborough with Helical (Peterborough) Ltd ("HPL") a special purpose vehicle owned by Helical Bar plc. Under the agreement, HPL has acquired the property for £7.5 million with Peter Brotherhood Ltd as the tenant and Hayward Tyler as the guarantor. Peter Brotherhood Ltd has signed a 15 year lease with a market rent of £575,000 per annum and subject to market reviews after 5 and 10 years. Hayward Tyler will prepay senior borrowings saving estimated interest costs of approximately £250,000 on an annual basis as a result of the sale and leaseback. Nick Flanagan, CFO of Hayward Tyler, commented: "We believe this transaction provides an excellent mechanism through which to further strengthen our balance sheet following the acquisition of Peter Brotherhood for £9.8 million last October. This agreement, combined with the additional revenues that Peter Brotherhood brings to the Group, further underlines the value of the acquisition to Hayward Tyler as we continue to develop our presence in the power generation, oil & gas, and industrial sectors." Enquiries: Hayward Tyler Group plc Ewan LloydBaker, Chief Executive Officer Tel: +44 (0)1582 Nicholas Flanagan, Chief Financial Officer 731144 http://www.investegate.co.uk/ArticlePrint.aspx?id=201603290700143267T
1/2
3/29/2016
Hayward Tyler Group | Peterborough property: sale & leaseback agreement | FE InvestEgate
Akur Limited Corporate Finance Adviser David Shapton Tom Morrell FinnCap Limited NOMAD & Broker Matt Goode Corporate Finance Grant Bergman Corporate Finance Tony Quirke Corporate Broking GTH Communications Limited Liam O'Donoghue
Tel: +44 (0)20 7493 3631 Tel: +44 (0)20 7220 0500 Tel: +44 (0) 20 7583 8304
About Hayward Tyler Group plc Hayward Tyler Group plc is a market leader in the design, manufacture and servicing of performancecritical motors and pumps for the harshest of environments. Core markets for the group include: oil & gas exploration both topside and subsea; power generation both conventional and nuclear; and the chemical/industrials sector. With facilities in the UK, US, China and India, the Group has a proven reputation for providing innovative, reliable technological solutions built on a proud heritage stretching back over 200 years. www.haywardtyler.com
This information is provided by RNS The company news service from the London Stock Exchange END STRPGURWWUPQPPR
http://www.investegate.co.uk/ArticlePrint.aspx?id=201603290700143267T
2/2
Hayward Tyler Group | Peterborough property: sale & leaseback agreement | FE InvestEgate
Hayward Tyler Group
Peterborough property: sale & leaseback agreement RNS Number : 3267T Hayward Tyler Group PLC 29 March 2016
29 March 2016
Hayward Tyler Group plc
("Hayward Tyler", the "Company" or "Group")
Peterborough property sale and leaseback agreement Further to the announcement of the acquisition of Peter Brotherhood on 12 October 2015, the directors of Hayward Tyler Group plc (AIM: HAYT.L), the specialist engineering group, are pleased to announce the completion of the sale and leaseback of its 11.5 acre Peter Brotherhood site in Peterborough with Helical (Peterborough) Ltd ("HPL") a special purpose vehicle owned by Helical Bar plc. Under the agreement, HPL has acquired the property for £7.5 million with Peter Brotherhood Ltd as the tenant and Hayward Tyler as the guarantor. Peter Brotherhood Ltd has signed a 15 year lease with a market rent of £575,000 per annum and subject to market reviews after 5 and 10 years. Hayward Tyler will prepay senior borrowings saving estimated interest costs of approximately £250,000 on an annual basis as a result of the sale and leaseback. Nick Flanagan, CFO of Hayward Tyler, commented: "We believe this transaction provides an excellent mechanism through which to further strengthen our balance sheet following the acquisition of Peter Brotherhood for £9.8 million last October. This agreement, combined with the additional revenues that Peter Brotherhood brings to the Group, further underlines the value of the acquisition to Hayward Tyler as we continue to develop our presence in the power generation, oil & gas, and industrial sectors." Enquiries: Hayward Tyler Group plc Ewan LloydBaker, Chief Executive Officer Tel: +44 (0)1582 Nicholas Flanagan, Chief Financial Officer 731144 http://www.investegate.co.uk/ArticlePrint.aspx?id=201603290700143267T
1/2
3/29/2016
Hayward Tyler Group | Peterborough property: sale & leaseback agreement | FE InvestEgate
Akur Limited Corporate Finance Adviser David Shapton Tom Morrell FinnCap Limited NOMAD & Broker Matt Goode Corporate Finance Grant Bergman Corporate Finance Tony Quirke Corporate Broking GTH Communications Limited Liam O'Donoghue
Tel: +44 (0)20 7493 3631 Tel: +44 (0)20 7220 0500 Tel: +44 (0) 20 7583 8304
About Hayward Tyler Group plc Hayward Tyler Group plc is a market leader in the design, manufacture and servicing of performancecritical motors and pumps for the harshest of environments. Core markets for the group include: oil & gas exploration both topside and subsea; power generation both conventional and nuclear; and the chemical/industrials sector. With facilities in the UK, US, China and India, the Group has a proven reputation for providing innovative, reliable technological solutions built on a proud heritage stretching back over 200 years. www.haywardtyler.com
This information is provided by RNS The company news service from the London Stock Exchange END STRPGURWWUPQPPR
http://www.investegate.co.uk/ArticlePrint.aspx?id=201603290700143267T
2/2
