Last checked at 20 Jan 2011 07:00
FOR IMMEDIATE RELEASE | 20 January 2011 |
Safestore Holdings plc
("Safestore" or the "Company")
Bridgepoint sale of remaining interest in Safestore Holdings plc
Safestore Holdings plc ("Safestore" or the "Company") has received notification that on 19 January 2011 Bridgepoint sold 33,684,247 shares in Safestore at 135p, representing 17.9% of the issued share capital of the Company. As a result of this transaction Bridgepoint no longer has an interest in the Company.
Under the terms of the agreement between Bridgepoint and the Company, Alan Lewis offered his resignation. This was declined by the Board of Safestore who value his experience and input and consequently wish him to remain as a non executive director, subject to agreeing the terms of his continuing engagement.
Citi and Evolution Securities acted as joint bookrunners in the placing.
Richard Grainger, Safestore's Chairman said:
"On behalf of the Board I would like to thank Bridgepoint for its unstinting support over the last seven years. The disposal will enhance liquidity in Safestore's shares and we welcome the support from our existing institutional shareholders as well as new investors."
-ENDS-
For further information, please contact:
Enquiries
Safestore Holdings plc | |
Richard Grainger, Chairman | Tel: 020 7166 6222 |
Steve Williams, Chief Executive | Tel: 020 8732 1500 |
www.safestore.com | |
Bridgepoint | |
James Murray | Tel: 0207 432 3555 |
Hudson Sandler | |
Nick Lyon / Wendy Baker | Tel: 020 7796 4133 |
Notes to editors:
·; Safestore is the UK's largest self storage group with 118 stores including 96 wholly owned stores and 12 stores under management throughout the UK and 22 stores in Paris. |
·; The Company provides storage facilities to over 41,000 domestic and business customers. |
·; Safestore (excluding Space Maker stores under management) has a maximum lettable area ("MLA") for self storage of 5.2 million sq ft (including 10 expansion pipeline stores) of which 2.94 million sq ft was occupied as at 31 October 2010. |
·; As the UK's only national self storage provider, Safestore is uniquely positioned to meet the needs of companies requiring a national service. |
·; A strong balance sheet and operational cash flow along with increased bank facilities allows Safestore to invest in continual improvements in the operational performance of its stores, in new store development and acquisitions where appropriate. |
·; Safestore employs around 500 people. |