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HMLH Hml Holdings Plc

36.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hml Holdings Plc LSE:HMLH London Ordinary Share GB00B16DFY89 ORD 1.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 36.50 35.00 38.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

HML Holdings PLC Acquisition (8052V)

02/02/2017 7:00am

UK Regulatory


Hml (LSE:HMLH)
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TIDMHMLH

RNS Number : 8052V

HML Holdings PLC

02 February 2017

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

HML acquires Kent based Property Management Business

HML Holdings plc (AIM: HMLH), a leading provider of property management, insurance and ancillary services to residential property blocks, announces the acquisition of Goodacre Property Services Limited ("GPS"), a property management business based in Keston Kent.

HML Andertons Limited, the subsidiary of HML Holdings plc covering the geographical area of Kent, Sussex and South London has purchased the entire share capital of GPS for GBP317,000. This consideration will be satisfied in cash from HML's existing cash balances. The transaction includes an additional performance related retention payment of GBP80,000 which will be subject to the achievement of certain criteria and will be payable 12 months from the acquisition date. GPS produces normalised annual revenues of GBP300,000. It is expected that GPS will be earnings enhancing once it has been fully integrated into HML.

GPS was founded in 1988 to provide block management property services in the Kent and South London geographical areas. GPS, like HML, focuses on local private residential management. It has grown to manage to approximately 1,000 residential properties in 36 estates and blocks of flats. Richard Mason, former owner of GPS, will continue to work for the business and HML Andertons Limited. GPS will initially continue to operate from their existing offices in Keston before moving into HML's offices near Maidstone.

The acquisition of GPS is the first of the three potential acquisitions referred to in HML's announcement on 16 December 2016.

Commenting on the acquisition, Rob Plumb, Chief Executive of HML, said:

"We are pleased to welcome Richard and the Goodacre team to the Group. The company's excellent reputation of a quality local service will fit well into HML's operating strategy".

For further information, please contact:

HML Holdings plc

Robert Plumb, Chief Executive Officer

   James Howgego, Finance Director                                            Tel: 020 8439 8529 

finnCap

   Jonny Franklin-Adams, Giles Rolls- corporate finance                 Tel: 020 7220 0500 

Mia Gardner - corporate broking

Tavistock Communications Group

   James Verstringhe/Jeremy Carey                                              Tel: 020 7920 3150 

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQKMGGZNMVGNZM

(END) Dow Jones Newswires

February 02, 2017 02:00 ET (07:00 GMT)

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