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17 Jan 2017 10:34
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Johnston Press plc
Completion of the disposal of 13 publishing titles and associated websites in East Anglia and East Midlands for Ā£17 million
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Johnston Press plc ("Johnston Press")Ā is pleased to announce that it has completed the disposal of the entire issued share capital of Johnston Publishing East Anglia Limited, which owns 13 publishing titles and associated websites in East Anglia and the East Midlands, to Iliffe Media Limited for cash consideration of Ā£17.0 million (the "Disposal").
The Disposal was originally announced on 16 December 2016 and was approved by shareholders of Johnston Press at a general meeting on 11 January 2017.
Ashley Highfield, Chief Executive of Johnston Press said,
"This disposal marks a major milestone in our divestment strategy and puts us firmly on the path of refocusing our activities on areas with the greatest growth potential in our selected geographic markets, audience profile and digital growth areas. The Disposal also reduces our net debt, putting us on a stronger financial footing."
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For further information please contact:
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Johnston Press | |
Ashley Highfield, Chief Executive Officer | 020 7612 2601 |
David King, Chief Financial Officer | 020 7612 2602 |
Bell Pottinger | |
Dan de Belder / Henry Lerwill | 020 3772 2500 |
Panmure Gordon (Sponsor and Joint Broker) | |
Dominic Morley / Andrew Potts / Alina Vaskina (Corporate Finance) Charles Leigh-Pemberton (Corporate Broking) | 020 7886 2500 Ā |
Liberum (Joint Broker) | |
Neil Patel | 020 3100 2000 |
Ingenious Corporate Finance (Financial Adviser) | |
Toby Ramsden | 020 7319 4159 |
Graham Smith | 020 7319 4162 |
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