19 May 2009 07:00
19th May 2009
Safeland Plc ("Safeland"or the "Company")
Acquisition
The Company announce that together with funds managed by Electra Partners ("Electra") it has acquired the interests of The Babcock & Brown Managed Workspace Unit Trust ("BnB") in Safeland Active Management Unit Trust ("SAM"), a managed work space fund, whose assets comprise properties which were acquired for an aggregate of £60m between December 2006 and March 2008.
The total consideration was £500,000 and Safeland and Electra bought 50% each. Following the acquisition Safeland's interest in SAM is approximately 40 per cent. with Electra holding the remaining units.
Contacts:
| Paul Davis, Finance Director, Safeland Plc: | 0208 815 1600 |
| John Prior/Tom Griffiths, Arbuthnot Securities: | 0207 012 2000 |
SAF.L (SAF)