REG - MJ Gleeson Plc - Announcement regarding GB Group Holdings Limited <Origin Href="QuoteRef">GLEG.L</Origin>

MJ GLEESONAnnouncement

05/03/2015 12:21

RNS Number : 6679G
MJ Gleeson PLC
05 March 2015
5 March 2015
MJ GLEESON PLC
Announcement regarding GB Group Holdings Limited
MJ Gleeson (GLE.L) (the "Group"), the urban regeneration and strategic land specialist, has been notified that GB Group Holdings Limited ("GBGH"), in which the Group has a 25% shareholding, has given notice that it intends to appoint Administrators. Consequently, the Group's 4.9m investment in GBGH is now considered to be at risk. The Group's investment in GBGH was made in 2005 in order to facilitate a management buyout of the Group's building contracting division. Any subsequent write down will be recorded as an exceptional, non-cash, item in the Group's results for the current year ending 30 June 2015.
Current trading remains strong with the Board remaining confident of delivering an underlying result for the year in line with current market expectations.
Enquiries:
MJ Gleeson PLC

Tel: +44 1252 360 300
Jolyon Harrison
Chief Executive Officer

Alan Martin
Chief Financial Officer




Instinctif Partners

Tel: +44 20 7457 2020
Helen Tarbet


James Gray





N+1 Singer


Shaun Dobson

Tel: +44 20 7496 3000
Emily Watts
Ben Griffiths



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