30th Apr 2015 07:00
30 April 2015
Public Service Properties Investments Limited
("the Company")
Update on the disposal of UK companies, businesses and assets - additional consideration
On 4 March 2015 the Company announced that the sale of its UK companies, businesses and assets to Embrace Group Limited ("Embrace") had completed. In the original announcement of the proposed disposal on 13 February 2015, the Company informed shareholders that additional deferred consideration of £2.5 million would be payable in cash by 31 December 2015 if Embrace was successful in tendering for certain ongoing domiciliary care contracts.
We are pleased to report that Embrace has notified the Company that it has been successful in this tendering and it has confirmed that, accordingly, this additional consideration has become due for payment by the end of this year. A further announcement will be made in due course.
For further information please visit www.pspiltd.com or call:
Dr. D. Srinivas Ralph Beney
RP&C International (Asset Manager) 020 7766 7000 | Ben Mingay Philip Kendall Sylvester Oppong
Smith Square Partners (Financial Adviser) 0203 696 7260 | Tom Griffiths Henry Willcocks
Westhouse Securities (Nomad and Broker) 020 7601 6100 |
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Related Shares:
PSPI.L