PENDRAGON PLC

Regulatory Filings • Jan 28, 2015

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PENDRAGON PLC - Realisation of Investment

PR Newswire

London, January 28

        REALISATION OF INVESTMENT IN KING ARTHUR HOLDINGS SarL28 JANUARY 2015Pendragon is pleased to announce that King Arthur Holdings SarL, a company inwhich the group has a 5% investment, has today completed the sale of its onlysubsidiary, King Arthur Properties SarL. Subject to completion accounts,Pendragon expects to receive in the region of £24m in respect of its original £10m investment, resulting in an estimated non-underlying profit of £14m. Theinvestment had been returning an underlying dividend income of £1.1 per annum.The proceeds will be applied to the reduction of debt.King Arthur Properties SarL was the landlord in respect of 73 propertiesoperated by Pendragon as car dealerships, together with our head office. KingArthur Properties Sarl has been acquired by W. P. Carey Inc.Commenting on the transaction, Trevor Finn, Chief Executive, said:"I am delighted to announce this successful property transaction for thebenefit of our shareholders. It is reassuring to have, in W. P. Carey, along-term investor for a portfolio of our dealerships in the UK and we lookforward to working together with them."EnquiriesTrevor Finn         Chief Executive    Pendragon PLC               01623 725114Tim Holden          Finance Director   Pendragon PLC               01623 725114Gordon Simpson      Partner            RLM Finsbury                0207 2513801Philip Walters      Associate Partner  RLM Finsbury                0207 2513801