StockMarketWire.com - Lok'nStore has completed the sale of its undeveloped site in Portsmouth for £3 million in cash, equating to its July 2015 book value.

This sale was originally announced on 24 November 2014 and was conditional upon the buyer obtaining the requisite planning approvals. This process is now successfully concluded and the sale completed on 29 July 2016. As a result of the sale Lok'nStore's pro forma loan-to value (LTV) ratio will be reduced by 2.3 percentage points to 23.5% (2015: 25.8%).




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