Disposal

27 Nov 2006 07:01

Gourmet Holdings PLC27 November 2006 Gourmet Holdings plc("Gourmet Holdings" or "the Company") Disposal of two unbranded pubs for £2.85 million Following the decision by the Board of Gourmet Holdings, announced in September,to dispose of its pub/restaurants to focus on its Richoux business, the Companyis pleased to announce that it had sold its interests in two unbranded pubrestaurants, The Five Bells at Stanbridge, Bedfordshire and the Talkhouse atStanton St John, Oxfordshire to Fuller, Smith & Turner plc. The total consideration is £2.85m payable in cash on completion, which will takeplace on 22 December 2006. The Company exercised options within the leases ofthese premises to acquire the freehold interests for £2.60m and has alsodisposed of other associated fixtures and fittings, which had a book value of£535,000. This loss on disposal of fixed assets of £285,000 together with costsof the transaction will be included within the profit & loss account of theCompany for the half year to 7 January 2007. Discussions, which may lead to a disposal of the four Bel and the Dragon pub/restaurants, are underway. 27 November 2006 Enquiries: Gourmet Holdings plcRichard Scott 07740 926 184Andrew Guy 07768 143 872College HillMatthew Smallwood (020) 7457 2020Justine Warren This information is provided by RNS The company news service from the London Stock Exchange