Agreement to the purchase of South Uist estate

Today, Thursday 30 November 2006, the two sides in the purchase of South Uist Estate have agreed draft terms of a share purchase agreement which will allow the transaction to proceed.

Angus Macmillan, chairman of Stòras Uibhist, said: "I am exceedingly happy that detailed agreement in principle has been reached. I thank the directors and shareholders of South Uist Estate for their constructive attitude throughout the negotiations. This is an important day in the history of South Uist and I look forward to the community pressing ahead with the projects and estate management that will benefit the people of South Uist in the years ahead."