StockMarketWire.com - Multi-retailer redemption product provider Appreciate confirmed that it had completed the sale of Budworth Properties to HP (Valley Road) for a £3.2m.

Budworth Properties was a subsidiary, which owned the land and buildings located at Valley Road, Birkenhead, that had been held on the group's balance sheet as an asset held for sale.

The transaction also included an agreement for Appreciate to leaseback a small amount of space for its fulfilment operations at Valley Road from HP.

The consideration for the disposal, and the non-cash impairment charge of £1.8m, were in line with the company's expectations of the carrying value to be reported as at 31 March 2020 and the guidance on impairment charges that were provided in the group's year end trading update on 30 April 2020, the company sadi.





At 9:59am: [LON:APP] share price was +1.1p at 35.6p



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