24th Dec 2008 11:08
Leeds Group Plc
("Leeds Group" or the "Company")
Related Party Transaction
During the financial year 01/10/07 to 30/9/08 the Company's principal trading subsidiary, Hemmers-Itex Textil Import Export GmbH ("Hemmers") has supplied fabric to Stoff Ideen KMR GmbH ("KMR"), a company which Thorsten Richter (the Finance Director of Hemmers) has an interest in.
KMR is a chain of 15 retail shops selling material and associated items based in cities in the middle and south of Germany. The total sales to KMR amount, in aggregate, to €466,630 and constituted approximately 70 small transactions over the course of the 12 months. KMR pay for the goods in cash pursuant to Hemmers' normal terms of trade.
In accordance with the AIM Rules, the Directors of Leeds Group, having consulted with the Company's Nominated Adviser, Seymour Pierce Limited, consider that the terms of supply to KMR, being Hemmers' standard terms of supply, are fair and reasonable insofar as the Company's shareholders are concerned.
Enquiries:
Ewen Wigley Tel: 07815 134466
Chairman
Leeds Group Plc
Sarah Jacobs/Catherine Leftley Tel: 020 7107 8000
Seymour Pierce Limited
Related Shares:
Leeds Group