6th Feb 2006 07:00
Release date: 06 February 2006Embargoed until: 07:00hrs CLS HOLDINGS PLC ANNOUNCES SALE OF PROPERTY IN FRANCE The Board of CLS Holdings plc ("CLS") is pleased to announce the sale by itswholly owned subsidiary Citadel Holdings plc of Le 41 building in La Dƒ©fense,Paris for ¢â€š¬22.3 million (‚£15.3 million).The property comprising 6,026 sq m (64,864 sq ft) and fully let to IBM untilDecember 2004, was purchased by CLS in 1998 for ¢â€š¬11.7 million (‚£7.4 million)and was valued as at 30 June 2005 at ¢â€š¬21.4 million (‚£14.7 million).The property had been vacant for 12 months following the departure of IBM andwas purchased by the financial accounting firm, Fiducial, for its ownoccupation.Executive Chairman, Sten Mortstedt, commented:"We are delighted to have sold this property at a very attractive price. Theproperty has yielded excellent returns over our period of ownership and afterthis sale the vacancy rate of our French portfolio is just 3.0 per cent." -ends- For further information, please contact:Sten Mortstedt, Executive ChairmanPer Sjƒ¶berg, Chief Executive OfficerDan Bƒ¤verstam Chief Financial OfficerCLS Holdings plcwww.clsholdings.comTel. +44 (0)20 7582 7766Ben SimonsHansard CommunicationsTel. +44 (0)20 7245 1100ENDCLS HOLDINGS PLCRelated Shares:
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