22nd Jun 2005 07:00
Spice Holdings PLC22 June 2005 For release at 7am on 22 June 2005 22 June 2005 Spice Holdings plc ("Spice" or "the Company") Related party transaction On 12 April 2005, in the ordinary course of trading, Spice's subsidiaryundertaking, Team Simoco Limited ("TSL"), completed the sale of certain telecomsstocks to PKS Enterprises Limited ("PKS"). PKS is a related party to Spice byvirtue of the fact that PKS is controlled by a Director of a subsidiaryundertaking of Spice. The total sale price agreed with PKS for the stocks was £447,000. The writtendown value of the stocks sold was £249,000 and the profit earned by TSL, andconsequently Spice, from this sale was £198,000. The Directors of Spice, having consulted with its nominated adviser, KBC PeelHunt Limited, consider that the terms of the transaction are fair andreasonable. In Spice's RNS of 20 May 2005, Spice confirmed that trading was in line withmarket expectations. That announcement excluded the impact of the transactionreferred to above. The company's full year results will be announced on 21 July 2005 and apresentation for Analysts will take place on the morning of the 21 July. Enquiries: Spice Holdings plc Tel: 0113 3843838Simon Rigby, Chief Executive OfficerCarl Chambers, Corporate Development DirectorOliver Lightowlers, Group Finance Director Ends This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Spire Healthcare