Stanley Gibbons sells Mayfair property
After costs, the company will use the funds to reduce its debt by approximately £2.4 million.
Stanley Gibbons has also completed a sublet of a substantial part of its New York premises at 929 Madison Avenue.
The company said the completion of both transactions represents an “encouraging start” towards its cost-saving target of £5 million per year.
In a further announcement, Stanley Gibbons said it has appointed Henry Turcan as a non-executive director. Currently an employee of Henderson Global Investors, a significant shareholder in the company, Turcan was previously a co-founder and director of Novum Securities, an independent stockbroking business focused on UK listed securities, and prior to that was a corporate finance director at Evolution Securities.
Harry Wilson has now been confirmed as Stanley Gibbons’ chairman following his appointment as chairman elect earlier this month.
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