St. Ives PLC Statement regarding disposal of property assets (0803H)

TIDMSIV

RNS Number : 0803H

St. Ives PLC

05 June 2017

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 GBP4.2 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 GBP0.4 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 GBP4.9 million.

The Transaction constitutes a class 2 transaction for the purposes of the UK Financial Conduct Authority's Listing Rules.

- Ends -

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

The company news service from the London Stock Exchange

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June 05, 2017 02:00 ET (06:00 GMT)