PIRI.L Regulatory News (PIRI)

YES! Project Planning Approval

Oak Holdings plc ("Oak" or the "Company"), the leisure business operator and YES! Project developer, announces that, following the resolution to grant Planning Consent at the Planning Board of Rotherham Borough Council held on 17 May 2010 for the revised YES! Project, the Government Office has confirmed that RMBC have been authorised to determine the application. At the Planning Board, held on 2 September, it was unanimously resolved to:

a) grant Planning Consent in accordance with the Planning Officer's recommendations; and

b) enter into a supplemental agreement to link the existing s106 Agreement with the current consent.

The decision allows Oak to progress the YES! Project with the benefit of a revised scheme that facilitates phased development.

Commenting on the decision, Chief Executive, Steve Lewis, said:

"This is a strategic step forward for the Company and, indeed, the region. The consent demonstrates Oak's commitment to the YES! Project and this major regeneration leisure project, allowing us to proceed with renewed confidence. We have been extremely encouraged by the support of our existing partners and tenants and by an increasing number of recent enquiries. We are grateful for the continued confidence in Oak by RMBC."

For further information, please contact:

About Oak

Oak is an asset-based leisure business operator with significant property development potential. The Company's activities comprise:

Rother Valley County Park

The Company leases and manages Rother Valley Country Park, a 1,000 acre country park with four major lakes. The park is positioned just off the M1 on the borders of Sheffield, Rotherham and Derbyshire. It currently attracts over 750,000 visitors per year and is included in the Official 2012 Olympic Training Camp Guide, which recommends high quality sporting facilities for all participating athletes.

Ringwood Town & Country Experience

Ringwood Town & Country Experience is a leisure business located in the New Forest, Hampshire, which attracts around 19,000 visitors per year. Ringwood Town & Country Experience incorporates a Heritage Centre with vintage cars and motorcycles, a replica railway station, tearooms, a restaurant, nostalgic shops and a 100 seat function room. 

YES! Project

Oak is the promoter and developer of the exciting £350 million YES! Project, a phased development which will create one of the largest undercover, leisure-based, resort and convention destinations in Europe. The site covers 327 acres and is adjacent to the Rother Valley Country Park in South Yorkshire.