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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ashley (laura) Holdings Plc | LSE:ALY | London | Ordinary Share | GB0000533728 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.35 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2134P Ashley (Laura) Hldgs PLC 01 September 2003 1 September 2003 LAURA ASHLEY HOLDINGS plc ("Laura Ashley" or "the Group") Laura Ashley Holdings plc announces that it has agreed the sale of its operations in Belgium, Luxembourg and the Netherlands to Laben Holding BV for Euro 2. This sale relates to companies owning three stores in Belgium, one in Luxembourg and seven in the Netherlands. The purchaser will enter into a single, renewable franchise agreement with the Group lasting an initial four and a half years. For the year ended 25 January 2003 the businesses being disposed of reported turnover of #6.7 million and a loss before tax of #2.2 million. It is expected that the businesses being disposed of will have a net asset value of #1.5 million and the cash impact to the Group's UK operations will be broadly neutral. This disposal is part of the Group's strategy, announced in January 2003, to withdraw from its European operations whilst securing franchise agreements for stores in Continental Europe where possible. Since January, the Group has closed 33 stores (one in Holland, one in Belgium, four in Austria, seven in France, and 20 in Germany). Six stores remain open in France. Four are expected to close by November 2003 and the Group is currently in negotiations for the sale and franchise of the remaining two stores in France. In June 2003, Laura Ashley announced it had entered into conditional Heads of Terms for the disposal and franchise of six stores in Switzerland, Austria and Italy to EDMI Holdings SA. Discussions are ongoing to finalise the sale and purchase agreement. Upon successful completion of all of the above negotiations, Laura Ashley Holdings plc will have completed its exit from Continental Europe. Enquiries: David Cook Chief Financial Officer 020 7880 5100 Tom Buchanan/ Brunswick Group Limited 020 7404 5959 Katya Reynier This information is provided by RNS The company news service from the London Stock Exchange END DISNKDKPABKKCCK
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