This announcement contains inside information in relation to St Ives
5 June 2017
St Ives plc
("St Ives" or the "Group")
Notification of a Class 2 Transaction
Statement regarding the disposal of property assets (DIS)
St Ives, the international marketing services group, announces that, on 2 June 2017, it completed the disposal of a wholly-owned property at Victoria Business Park, Roche, Cornwall ("the Property") for the sum of £4.2 million, payable in cash, to Rodenhurst Estates Limited, a property investment company ("the Transaction").
The Property is leased to a third party tenant and contributed £0.4 million per annum to operating profit. The net proceeds of the disposal of the Property will be used to reduce the Group's Net Debt. The net book value of the Property as at 27 January 2017 was £4.9 million.
The Transaction constitutes a class 2 transaction for the purposes of the UK Financial Conduct Authority's Listing Rules.
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For further information contact:
St Ives plc 020 7928 8844
Matt Armitage, CEO
Brad Gray, CFO
MHP Communications 020 3128 8100
John Olsen / Giles Robinson / Gina Bell
This information is provided by RNS