Mon, 30th Apr 2018 11:56
30 April 2018
CSF Group plc
("CSF", the "Company" or the "Group")
Update regarding the conditional disposal
Following the Company's announcements on 12 September 2017, 28 September 2017 and 1 November 2017 pertaining to the conditional disposal (the "Conditional Disposal") of CSF CX Sdn Bhd ("CSF CX"), CSF announces that it has granted Bridge Data Centres Malaysia Holdings Sdn Bhd (the "Purchaser") an extension of up to 31 May 2018 to complete the Share Sale and Purchase Agreement. This grant of an extension is pursuant to a request by the Purchaser to allow for additional time to complete the final stage of the regulatory process.
The Group and the Purchaser are working together towards achieving the completion of the Share Sale and Purchase Agreement ("Completion"), which is expected to occur on or before 31 May 2018.
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 following Completion.
Other than the extension of time to complete the Share SPA, all other aspects of the Conditional Disposal remain unchanged.
The Company will provide further updates as and when appropriate.
For further information, please contact:
Phil Cartmell, Chairman
+603 8318 1313
Allenby Capital (Nominated Adviser and Broker)
Nick Naylor / Alex Brearley
+44 (0) 20 3328 5656