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22 May 2008 11:54
Leeds Group Plc
("Leeds" or the "Company")
Substantial Transaction
Leeds announces that it has, today, acquired 64,750,000 shares in Dawson International Plc ("Dawson") representing approximately 28.76% of Dawson's ordinary issued share capital. The purchase price of £971,250.00, equivalent to 1.5 pence per share, will be met from the Company's existing cash resources.
Dawson is one of world's leading cashmere businesses, whose headquarters are in Scotland and whose shares are traded on AIM. In the most recently published audited Report & Accounts for the financial year to 31 December 2006, the company made a loss after tax and exceptional items of £785,000 on turnover of £102 million. Further details on Dawson may be found on their website www.dawson-international.co.uk .
The Company considers the purchase of shares in Dawson to be an investment. The Company intends to work with the management at Dawson to increase shareholder value but does not currently intend to increase its shareholding in Dawson above 30 per cent. The remaining business of the Group will continue to operate in line with existing plans. There will be no change to the Board of Directors of Leeds arising from this transaction.
Mr Peter Gyllenhammar, a Non-Executive Director of Leeds Group holds 349,640 shares in Dawson representing 0.16% of Dawson's ordinary issued share capital.
Enquiries:
Ewen Wigley Tel: 07815 134466
Leeds Group plc
Sarah Jacobs Tel: 020 7107 8008
Seymour Pierce Limited
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