30 Mar 2010 07:00
FOR IMMEDIATE RELEASE
30 March 2010
MWB Group Holdings Plc ("MWB" or the "Company"):
Sale of Freehold of Liberty Flagship Store for GBP41.5 million
On 15 March 2010 MWB announced the proposed sale by its 68% subsidiary, Liberty Plc ("Liberty"), of the freehold interest in Liberty's 125,000 sq ft flagship store on Great Marlborough Street, London W1, from which Liberty operates its retail business for £41.5 million, to Sirosa Liberty Limited (the "Sale"). The Company now announces that it has received irrevocable undertakings to vote in favour of the ordinary resolution to be put to shareholders of the Company in due course in relation to the Sale from shareholders (including those referred to in the announcement made on 15 March) holding 71.3% of the Company's issued share capital. Of the 71.3%, 15.8% relates to undertakings from Directors of the Company.
Ends.
Contact:
Richard Balfour-Lynn, Chief Executive. MWB. Tel: 020 7706 2121
Baron Phillips, Baron Phillips Associates. Tel: 020 7920 3161
Longboat Energy (LBE)