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CSF Group PLC - Completion of disposal

Thu, 10th May 2018 08:56

RNS Number : 6316N
CSF Group PLC
10 May 2018
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

 

 

10 May 2018

 

 

CSF Group plc

("CSF", the "Company" or the "Group")

 

Completion of disposal

 

Following the Company's announcements on 12 September 2017, 28 September 2017, 1 November 2017 and 30 April 2018, pertaining to the conditional disposal (the "Disposal") of CSF CX Sdn Bhd ("CSF CX"), CSF announces that it has received confirmation from Bridge Data Centres Malaysia Holdings Sdn Bhd (the "Purchaser") that all conditions precedent to the Share Sale and Purchase Agreement have been fulfilled and the Disposal of CSF CX has now completed. The Disposal is therefore no longer capable of reversal under the terms of the Share Sale and Purchase Agreement.

 

The return to the Group of cash deposits lodged by the Group for banking facilities and rental deposits, which are currently estimated to amount to be approximately up to RM6 million (£1.0 million at current exchange rates), in connection with the CX2 and CX5 data centres is anticipated to occur in June 2018.

 

The Company will provide further updates regarding the return of Group cash deposits as and when appropriate.

 

 

For further information, please contact:

 

CSF Group

Phil Cartmell, Chairman

 

+603 8318 1313

Allenby Capital (Nominated Adviser and Broker)

Nick Naylor / Alex Brearley

 

+44 (0) 20 3328 5656

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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