Harvey Nash Group Regulatory News (HVN)

30 Jun 2005 07:15

Harvey Nash Group PLC30 June 2005 HARVEY NASH GROUP PLC Exercise of call option London, 30 June. Harvey Nash Group Plc, announces today that it has exercised acall option over 10% of the issued share capital of St Georges Harvey Nash Ltd(formerly HR Gardens Ltd) for a nominal price of HK$10. This option was grantedin consideration of Harvey Nash agreeing on 19 December 2003 to transfer theassets and undertakings of its Hong Kong office to St Georges Harvey Nash Ltdand entering into a brand licensing agreement and certain revenue referralarrangements. Albert Ellis, Chief Executive Officer commented: "Today, Harvey Nash has further strengthened its important strategic alliance inthe Asia Pacific region. Going forward, this gives the Group a low risk entranceinto the high growth mainland China market and further develops our globalcapability." ENQUIRIES: Harvey Nash Tel: 020 7333 0033 Albert Ellis, Chief Executive David Higgins, Executive Vice Chairman College Hill Tel: 020 7457 2020 Mark Garraway Dick Millard This information is provided by RNS The company news service from the London Stock Exchange