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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 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMHMLH
RNS Number : 9331R
HML Holdings PLC
01 November 2013
HML Holdings plc ("HML" or "the Group")
HML acquires block management business of LHH Management in Kensington
HML Holdings plc (AIM: HMLH), a leading provider of property management, insurance and ancillary services to residential property blocks, announces that it has acquired the block property management business of LHH Management LLP ("LHH"), based in Kensington West London.
The consideration for the acquisition is GBP290,000 which will be satisfied in cash from HML's working capital. GBP232,000 is payable on completion and the balance of GBP58,000 is deferred over one year and subject to client retention performance conditions.
The business acquired manages over 400 units in and around the Kensington and Chelsea area. For the year ended 31 December 2012, the block portfolio produced annual revenues of approximately GBP210,000 and is expected to be immediately earnings enhancing.
LHH is a firm of residential property managers who also undertake lettings management. HML will not be acquiring the letting business.
Commenting on the acquisition, Rob Plumb, Chief Executive of HML, said:
"We are very pleased to welcome LHH's clients and property management team to HML. The level of service and culture at LHH are entirely compatible with our own which means the business will fit well into HML Hawksworth's offices in Victoria, from where buildings in this area are managed."
For further information, please contact:
HML Holdings plc
Robert Plumb, Chief Executive Officer
James Howgego, Finance Director Tel: 020 8439 8529
finnCap
Ed Frisby/Christopher Raggett - corporate finance Tel: 0207 220 0500
Simon Starr - 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
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