Upgrade of Sports Facility (8011S)
25 Novembre 2011 - 12:51PM
UK Regulatory
TIDMTWL
RNS Number : 8011S
Weather Lottery PLC (The)
25 November 2011
THE WEATHER LOTTERY PLC
('TWL or the 'Company')
Upgrade of Sports Facility
25 November 2011
In June 2011 TWL announced it had acquired Soccerdome Limited
("Soccerdome"), the owner and operator of a "five-a-side" public
sports facility at the Harvey Hadden Sports Complex in Nottingham.
In that announcement it advised that the Company would undertake a
refurbishment plan, to be partially funded by the vendor of
Soccerdome, expected to be completed by early Autumn 2011.
The Board obtained full estimates of cost in August with a view
to undertaking the work in October. However this full renewal,
including the latest "rubber crumbing" of the surfaces and the
provision of roof cover to four of the pitches, has now been
delayed. The Board has taken this decision after receiving
information from the local authority about its proposed major
redevelopment of the Harvey Hadden Sports Complex with new changing
rooms and car parking to compliment the building of an Olympic size
swimming pool adjacent to the five-a-side centre. TWL were made
aware of the progress towards this redevelopment in September (it
having been previously shelved).
The start date of the Harvey Hadden redevelopment work is yet to
be announced, but TWL believes that it is unlikely to commence
earlier than Spring 2012. Since the Harvey Hadden redevelopment
work may remove for a time the changing facilities and may even
encroach on the existing five-a-side centre, the Board has decided
to delay the planned Soccerdome refurbishment works temporarily. In
order to protect the existing business the Company has completed a
smaller refurbishment and "refreshment" of the courts for the
winter use. Whilst this has been undertaken at a substantially
reduced cost to the Company, the increases in pitch utilization
that might have been expected from the "rubber crumbing" and the
provision of roof cover have consequently been delayed together
with any resultant increased contribution to Group
profitability.
ENDS
For further information contact
The Weather Lottery PLC
John Botros (Company Secretary) 07714209346
Religare Capital Markets (Nomad)
Peter Trevelyan-Clark 02074440800
SVS Securities (Broker)
Ian Callaway 02076385600
Greycoat Communications
Andrew Marshall 07785297111
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBBBDBCSDBGBU
Tintra (LSE:TNT)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Tintra (LSE:TNT)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024