Oak Holdings Announcements

Valuation Report

01 September 2008 07:00:05



RNS Number : 3728C Oak Holdings PLC 01 September 2008  
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Oak Holdings plc
1 September 2008

Valuation report

Following recent progress the Board of Oak Holdings plc ("Oak" or "the Company"), the AIM listed property development and consultancy group, commissioned  HLL Humberts Leisure (HLL), to undertake a formal valuation, based on the RICS Valuation Standards, of the Company's interests in accordance with good practice. The Company intends to undertake regular valuation of its interests. HLL is a leading specialist chartered surveyors and international advisors in leisure business and property.  

HLL considers that the value of the various interests and qualifying criteria for the proposed YES! concept,  including the 27 acres of adjoining freehold access land, is  £21 million.  Discussions with prospective tenants are ongoing, and the Board expects to announce shortly further Memoranda of Understanding in respect of the YES! project.

The Board continues to evaluate various compelling options to provide further working capital, prior to finalising a development loan to deliver the YES! project. Today's news coincides with the recent execution of the Development Agreement with Rotherham Metropolitan Borough Council. 

  Enquiries: -

Oak Holdings plc
020 7493 5522
Steve Lewis

Arbuthnot Securities Limited
020 7012 2000
Tom Griffiths
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