15th Nov 2005 07:00
Release date: 15 November 2005Embargoed until: 07:00 CLS HOLDINGS PLC ("CLS") RE. JOINT VENTURE COMPANY DISPUTE CLS wishes to clarify the situation concerning one of its group companies, NewMalden House Limited, which is a shareholder in Teighmore Limited("Teighmore"), the Jersey-based company which owns London Bridge Tower.An issue has arisen regarding the validity of the sale of some of thenon-voting shares in Teighmore which constitute a small part of the issuedshare capital.CLS' share of the value of London Bridge Tower is ‚£18.3 million compared to atotal CLS property portfolio valuation in excess of ‚£1 billion.This issue has no bearing whatsoever on the development, which is progressingmost encouragingly. Discussions are presently in hand with a number ofinterested tenants and funders, whilst preparation of the constructionprogramme is in its final stages. -ends- Contacts:Sten Mortstedt, Executive ChairmanTom Thomson, Chief Executive & Vice ChairmanCLS Holdings plcwww.clsholdings.comTel. +44 (0)20 7582 7766Adam ReynoldsHansard CommunicationsTel. +44 (0)20 7245 1100ENDCLS HOLDINGS PLCRelated Shares:
CLS Holdings