Disposal of property asset
06/05/2022 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220506:nRSF5346Ka&default-theme=true
RNS Number : 5346K Unbound Group PLC 06 May 2022
Unbound Group plc
Disposal of property asset
6 May 2022
Unbound Group plc ("Unbound" or the "Company"), the online multi brand retail
platform enhancing the active lifestyles of the over 55 demographic, is
pleased to announce that it has disposed of a leasehold property investment
near Manchester (the "Property") to the Coal Pension Properties Limited for a
gross cash consideration £1.75 million. The Property had a carrying value in
the Company's annual audited accounts to 31 January 2022 of £1.5m.
The Property is leased to Fujitsu Services Limited for an annual rent of
£300,000. The Factory was a legacy investment by Electra Private Equity plc
and is not used for the operations of Unbound or any of its subsidiaries.
Unbound will deploy the proceeds into continued development of the Unbound
platform and for general working capital purposes.
ENQUIRIES
Unbound Group plc
Dan Lampard
020 3874 8300
Stifel Nicolaus Europe Limited (Nomad and corporate broker)
Ash Burman, Nick Adams, Stewart Wallace, Francis North
020 7710 7600
Vico Partners
Sofia Newitt
020 3957 5045
NOTES TO EDITORS
Unbound Group plc
Unbound Group plc is the parent company for a group selling a range of brands
focused on the 55+ demographic. Unbound Group will build on the solid
foundation of Hotter Shoes, its current main business, to grow value through
its curated, multi-brand retail platform supporting the active lifestyles of
the 55+ demographic with a range of products and services. Unbound's expanded
offering beyond footwear will feature a broad range of active lifestyle
products and services, with third-party complementary brands featuring
alongside new Unbound Group brands, as well as Hotter.
Hotter Shoes
Hotter Shoes, an Unbound Group plc company, is one of the UK's leading
specialist footwear brands, selling over 1.4 million pairs of shoes per year.
Hotter's footwear has an uncompromising focus on 'customised comfort' and
perfect fit through the use of its differentiating technology, including its
e-commerce platform, 3D foot scanner and augmented reality app which enables
the consumer to try products virtually from home. Hotter has been transformed
from a retail to a digitally led, omni-channel business over the past 3 years,
selling its footwear to over 4 million customers via online, its direct mail
order channel and its targeted 17 Technology Centres and 7 garden centre
concessions in the UK. With its clearly defined, large and growing target
demographic, Hotter now reaches 29% of the female population in the UK over
the age of 55. Digital partnerships have recently been established with
several online retailers including Next, John Lewis, The Very Group and
M&S.
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 DISFLFSDEIIEIIF