REG - LSL Property Svcs. - Related party transaction

LSL Property ServicesAnnouncement

13/01/2023 10:00

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RNS Number : 6593M  LSL Property Services PLC  13 January 2023

LSL Property Services plc ("LSL")

 

Related Party Transaction

 

LSL Property Services plc ("LSL") has agreed the option price for the
acquisition of the remaining 30% interest in RSC New Homes Limited ("RSC")
having initially invested in the company in 2018. This includes acquiring 10%
from Andrew Mannion an option holder who is also a related party.  The option
price has been agreed by way of a variation to the 2018 put and call option
agreement, and the transaction is a smaller related party transactions which
falls within the provision of Listing Rule 11.1.10R, requiring this
announcement to be released. The variation relates to the timing of the
determination of the option price and the date for the completion of the
acquisition of the shares including payment of the option price. The option
price has been set at £0.8m and the transaction completed on 12 January
2023. The acquisition has been through LSL's wholly owned subsidiary,
your-move.co.uk Limited and was completed to facilitate LSL's sale of RSC to
Pivotal Growth Limited which was announced on 13 January 2023.

 

For further information, please contact investorrelations@lslps.co.uk
(mailto:investorrelations@lslps.co.uk)

 

 

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