Last checked at 16 Jul 2010 07:00
16th July 2010
Investment in Australian Franchisee
Mothercare plc announces that it is in discussions to acquire a 25% stake in Headline Group Limited ("Headline"), which operates the Mothercare and Early Learning Centre franchises in Australia and New Zealand. This investment is subject to due diligence and agreement of final documentation.
The investment will be made by way of convertible loan notes with a value of Aus$12.2M (approximately £7.2M), which will convert to shares in Headline subject to approval of its shareholders. The capital will provide Headline with increased resources to accelerate the nationwide expansion of the Mothercare and Early Learning Centre brands in Australia and New Zealand.
Headline Group Limited has today made an announcement on the Australian stock exchange: http://www.headlinegroup.com.au/shareholders.html
Enquiries to:
Mothercare plc
| Tim Ashby, Group General Counsel | 01923 206177 |
| Joanne Russell, Head of Investor Relations | 01923 694900 |
Brunswick Group
| Anita Scott/Catriona McDermott | 020 7404 5959 |