Share Name Share Symbol Market Type Share ISIN Share Description
SPACEANDPEOPLE PLC NEX:SAL.GB NEX Ordinary Share GB00B058DS79
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 13.00p 0.00p 0.00p 13.00p 13.00p 13.00p 0 11:02:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - -

SpaceandPeople PLC German Contract Ext / new pilot centres started

27/02/2019 10:30am

RNS Non-Regulatory


TIDMSAL

SpaceandPeople PLC

27 February 2019

SpaceandPeople plc

("SpaceandPeople" or the "Group")

German Contract Extension / new pilot centres started

SpaceandPeople plc (AIM:SAL) is pleased to announce that it has extended its agreement with GB Immobilien G.m.b.H. ("ECE") for the provision of Retail Merchandising Units ("RMUs") in ECE managed shopping centres in Germany (the "Agreement").

The Agreement has been extended for a further 24 months until 31 January 2021. The number of units included in the extension period is larger than in the previous period, with 76 RMUs compared with 65 previously. Additionally, the average rental amount payable to ECE is lower than in the previous agreement and this better reflects the current retail market.

Matthew Bending, Group CEO of SpaceandPeople said: "This is our tenth year of working with ECE as a provider of RMUs in Germany. The agreement extension enables profitable trading without large minimum guarantees and we have removed all the RMUs that have not traded profitably in the past. ECE is working with us to bring more of its managed centres to us for RMU operations and estimates the number of units will increase from 76 to 91, with the balance of new units anticipated to start in April 2019 in time for Easter.

"Retail Profile GmbH has rebranded in Germany as PoPRetail.de and has also started pilot projects with HBB group, DI group and JLL in Darmstadt for the provision of RMUs. If these pilots are successful we see the potential for another 10 to 15 RMUs being installed throughout the year.

For further information, please contact:

   SpaceandPeople plc                                           0845 241 8215 

Matthew Bending / Gregor Dunlay

   Cantor Fitzgerald Europe                                    020 7894 7000 

David Foreman / Will Goode (Corporate Finance)

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 or visit www.rns.com.

END

NRABDLFLKLFFBBB

(END) Dow Jones Newswires

February 27, 2019 05:30 ET (10:30 GMT)

1 Year SPACEANDPEOPLE Chart

1 Year SPACEANDPEOPLE Chart

1 Month SPACEANDPEOPLE Chart

1 Month SPACEANDPEOPLE Chart
Your Recent History
NEX
SAL.GB
SPACEANDPE..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190717 17:24:19