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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Cls Holdings Plc | LSE:CLI | London | Ordinary Share | GB00BF044593 | ORD 2.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.10 | -0.14% | 71.50 | 71.60 | 72.70 | 73.20 | 71.50 | 73.20 | 390,371 | 16:35:18 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Agents & Mgrs | 148.7M | -249.8M | -0.6286 | -1.15 | 284.55M |
From Jan 2020 to Jan 2025
TIDMCLI
RNS Number : 5840S
CLS Holdings PLC
04 October 2017
CLS Holdings plc
("CLS", the "Company", the "Group")
Renewal of Leases on 14 properties with
the Secretary of State for Communities and Local Government
CLS Holdings plc announces that it has completed lease renewals with the Secretary of State for Communities and Local Government (the "SSCLG") on 14 properties across the UK for which the SSCLG had leases which were due to expire, or had a break clause effective, on 31 March 2018. The properties are predominantly used as Job Centres by the Department for Work and Pensions.
New ten year leases have been granted on 13 properties which, with 11 having breaks in 2023 or 2026, provide a weighted average unexpired lease term to first break of 6.8 years. One property's lease has been extended on a short-term basis. The annual rent from the properties will be GBP5.5 million (previously: GBP6.5 million), with the majority index-linked to the Consumer Price Index. None of the leases has a rent-free period or other inducement.
Fredrik Widlund, Chief Executive Officer of CLS, said:
"In 2013, when CLS bought its portfolio of Government-let properties yielding 12%, it was confident that the vast majority of the leases with events in 2018 would successfully renew. I am delighted that our in-house asset management team has secured such a positive outcome which addresses the uncertainty which these lease events had caused, and which is likely to result in a commensurate increase in the values of the relevant properties at 31 December 2017."
For further information, please contact:
CLS Holdings plc
www.clsholdings.com
+44 (0)20 7582 7766
Fredrik Widlund, Chief Executive Officer
John Whiteley, Chief Financial Officer
Liberum Capital Limited
+44 (0)20 3100 2222
Richard Crawley
Jamie Richards
Panmure Gordon (UK) Limited
+44 (0)20 7886 2500
Dominic Morley
Andrew Potts
Elm Square Advisers Limited
+44 (0)20 7823 3695
Jonathan Gray
Smithfield Consultants (Financial PR)
+44 (0)20 3047 2476
Alex Simmons
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFLVIALVIID
(END) Dow Jones Newswires
October 04, 2017 02:00 ET (06:00 GMT)
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