18th Dec 2018 15:00
18 December 2018
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Laura Ashley Holdings plc (the "Company" or "Laura Ashley")
Sale of Laura Ashley Hotel, The Manor
The Board wishes to announce today the sale of Laura Ashley Hotel, The Manor in Elstree (the "The Manor") to Elstree Mill Limited for a cash consideration of £6 million. Contracts are exchanged and completion will be on 31 January 2019.
The Manor was acquired by the Company in 2011 for a consideration of £5.8 million.
Laura Ashley will continue to expand, both domestically and internationally, into the hospitality business under license and franchise. Currently, it has four Laura Ashley licensed Tea Rooms and one Laura Ashley licensed hotel, The Belsfield in Windermere.
The sale proceeds will be used for general working capital purposes.
Enquiries:
KC Ng / Seán Anglim | Laura Ashley | 020 7880 5100 | ||
Anita Scott / Helen Smith | Brunswick | 020 7404 5959 | ||
Rick Thompson / Catherine Leftley | Cantor Fitzgerald Europe | 020 7894 7000 | ||
Related Shares:
ALY.L