REG - CLS Holdings PLC - Disposal

CLS HoldingsAnnouncement

13/10/2022 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221013:nRSM7074Ca&default-theme=true

RNS Number : 7074C  CLS Holdings PLC  13 October 2022

 

 

PRESS RELEASE

 

 

Release date:                13 October 2022

Embargoed until:           07:00 am

 

 

CLS Holdings plc ("CLS" or the "Group")

CLS announces the sale of Sentinel House for £7.0 million, 4.5% above
valuation

 

CLS announces that it has simultaneously exchanged and completed on the sale
of Sentinel House in Coulsdon, Greater London, for £7.0 million excluding
costs.

 

Sentinel House was acquired by CLS in 2012 and consists of 3,211 sqm (36,711
sq. ft) of office space over 3 floors with ancillary car parking. Throughout
our ownership the asset has been let on an FRI basis to IHS Global Limited
which will expire at the end of 2022.

 

The sale, at a price 4.5% above the 30 June 2022 valuation, allows CLS to
crystallise the returns on the asset while releasing capital to strengthen its
liquid resources.

 

Fredrik Widlund, Chief Executive Officer of CLS, commented:

 

"The sale of Sentinel House is in line with CLS' asset management strategy and
secures a significant return on the asset, capturing value for investors while
increasing financial flexibility for the Group. The Group remains convinced of
the attractions of well-located, high-quality offices in non-prime locations
whilst continually assessing whether to hold or sell properties in-line with
CLS' business model."

 

 

-ends-

 

 

For further information, please contact:

 

 

CLS Holdings plc

(LEI: 213800A357TKB2TD9U78)

www.clsholdings.com (http://www.clsholdings.com)

Fredrik Widlund, Chief Executive Officer

Andrew Kirkman, Chief Financial Officer

+44 (0)20 7582 7766

 

Liberum Capital Limited

Richard Crawley

Jamie Richards

+44 (0)20 3100 2222

 

Panmure Gordon

Hugh Rich

+44 (0)20 7886 2733

 

Berenberg
 Matthew Armitt

Richard Bootle

+44 (0)20 3207 7800

Edelman Smithfield (Financial PR)

Alex Simmons

Hastings Tarrant

+44 (0)20 3047
2546

 

        Registered in England No. 2714781. Registered Office as
above.
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISFLFVRIFLFLIF