Buy
Sell
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 0.0% 26.00 25.00 27.00 26.00 26.00 26.00 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 28.1 1.7 3.0 8.7 12

HML Holdings PLC Acquisition

08/01/2020 7:00am

RNS Non-Regulatory


TIDMHMLH

HML Holdings PLC

08 January 2020

HML Holdings plc ("HML" or the "Group")

Acquisition of Property Management Business

The Board of HML Holdings plc, a leading provider of property management, insurance and ancillary services to residential property blocks, is pleased to announce the acquisition on 7 January 2020 of Leasehold Management Limited ("LML") for a consideration of GBP438,000 plus an additional payment for the surplus working capital (the "Acquisition").

Highlights:

   --    LML specialises in leasehold management and is based in Worthing 

-- LML will be integrated into HML over the coming months with employees remaining with the business, save for LML founder Peter Ballam who will be retiring

Alec Guthrie, Chief Executive of HML, said:

"The Acquisition is in line with the Group's strategy of acquiring leasehold management businesses that can quickly be integrated into the Group and that provides further regional coverage. We are pleased to welcome all the team at LML into the HML Group.

About LML

LML was founded by Peter Ballam in 1996 and offers property management services to developers, resident management companies and freehold landlords across Surrey, Sussex and Kent. The business focuses on the management of long leasehold and private developments. LML manages 1,222 units in 81 blocks. LML employees will remain with the business and operate from its offices in Worthing.

Consideration for the Acquisition

Total cash consideration (excluding the additional payment for surplus working capital at completion) is GBP438,000. The consideration includes performance related retention payments of up to GBP88,000 in total which will be subject to the achievement of certain criteria and will be payable 12 months and 24 months from the Acquisition date.

For further information, please contact:

www.hmlgroup.com

HML Holdings plc Tel: 020 8439 8529

Alec Guthrie, Chief Executive Officer

James Howgego, Chief Financial Officer

finnCap Tel: 020 7220 0500

Ed Frisby / Giles Rolls - corporate finance

Camille Gochez / Tim Harper - ECM

   Tavistock Communications Group                                           Tel: 020 7920 3150 

James Verstringhe / Jeremy Carey

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

NRAGZGGMNNDGGZM

(END) Dow Jones Newswires

January 08, 2020 02:00 ET (07:00 GMT)

1 Year Hml Chart

1 Year Hml Chart

1 Month Hml Chart

1 Month Hml Chart
ADVFN Advertorial
Your Recent History
LSE
HMLH
Hml
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:20200607 07:27:16