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Smaller related party transaction

31st Dec 2015 13:01

RNS Number : 6128K
Lookers PLC
31 December 2015
 



 

 

  

31 December 2015

Lookers plc

 

Smaller related party transaction

 

Lookers plc ("Lookers" or "the company") announces that on 30 December 2015, the company sold a Toyata business in Leeds, a Toyota business in Wakefield and a Lexus business in Leeds, to Meridian Motor Group Limited ("Meridian").

 

Phil White, the chairman of Lookers is a 30% shareholder in Meridian which is therefore a related party to the company under Listing Rule 11.1.4. The aggregate amount paid by Meridian for the three businesses is £12.68 million.

 

The disposal is a smaller related party transaction under Listing Rule 11.1.10 and Numis have independently confirmed that it is fair and reasonable so far as the company's shareholders are concerned.

 For further information:

Lookers plc

Telephone: 0161 291 0043

Andy Bruce, Chief Executive

Robin Gregson, Finance Director

Tavistock

Telephone: 020 7920 3150

Emma Blinkhorn, Matt Ridsdale

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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