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10 Sep 2015 07:00
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Release date: 10 September 2015
Embargoed until: 07:00
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CLS Holdings plc
("CLS", the "Company", the "Group")
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CLS Holdings plc announces the sale of
six UK properties for Β£7.4 million
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CLS Holdings plc announces that it has exchanged contracts to sell six properties in the UK for Β£7.4 million in aggregate, being Β£1.6 million above their external valuation at 31 December 2014, but in line with their values at 30 June 2015.
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The properties comprise:
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Β· Rivers House, Fortran Road, Cardiff;
Β· 1009 Oldham Road, Manchester;
Β· 47-51 High Street, Paisley;
Β· Gregson House, 2 Central Street, St Helens;
Β· 3 Sandringham Park, Swansea; and
Β· Nightclub and event centre, Princes Street, Ipswich.
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Five of the six properties were acquired in September 2013 as part of a UK-wide portfolio of 34 properties and the decision to dispose of them was driven by their location and relative size in relation to the Company's broader strategy.
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Sten Mortstedt, Executive Chairman of CLS, commented:
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"I am very pleased to announce the sale of these six properties at a premium to their 31 December 2014 valuations in a transaction that is another example of the Company's proactive and opportunistic management of its assets. Their disposal frees our in-house management team to concentrate on those UK properties which we believe can deliver more significant returns in the medium to long term."
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-ends-
For further information, please contact:
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CLS Holdings plc +44 (0)20 7582 7766
www.clsholdings.com
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Fredrik Widlund, Chief Executive Officer
John Whiteley, Chief Financial Officer
Β
Liberum Capital Limited +44 (0)20 3100 2222
Tom Fyson
Β
Panmure Gordon (UK) Limited +44 (0)20 7886 2500
Mark Taylor
Russell Cook
Β
Kinmont Limited +44 (0)20 7087 9100
Jonathan Gray
Β
Smithfield Consultants (Financial PR) +44 (0)20 7903 0669
Alex Simmons
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