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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
HML Holdings PLC
19 February 2019
HML Holdings plc ("HML" or the "Group")
HML acquires London based RBMS
HML Holdings plc (AIM: HMLH), a leading provider of property management, insurance and ancillary services to residential property blocks, is pleased to announce the acquisition of Residential Block Management Services Limited ("RBMS"), a property management business located in Blackheath.
HML PM Limited, the property management subsidiary of HML has purchased the entire share capital of RBMS for GBP675,000 cash consideration, satisfied from HML's existing facilities. The transaction includes additional performance related retention payments of up to GBP169,000 which will be subject to the achievement of certain criteria and will be payable 12 months from the acquisition date. RBMS reported annual revenues of GBP803,000 for the year ending 31 December 2018.
RBMS has been operating as a block management services business in and around the Blackheath area since 2005. It has grown to manage over 2,000 units in 160 blocks mainly in the South Eastern quartile of London. RBMS' employees will remain with the business and operating from its existing offices. The founders and current managers of the company will remain as consultants to assist HML in the assimilation and integration of the business.
Commenting on the acquisition, Rob Plumb, Chief Executive of HML, said:
"We are pleased to welcome all the team at RBMS into the HML Group. The business will become a valuable addition to our network of offices in London and provide ideal coverage for us in this important geographical area."
For further information, please contact:
www.hmlgroup.com
HML Holdings plc Tel: 020 8439 8529
Robert Plumb, Chief Executive Officer
Alec Guthrie, Chief Operating Officer
James Howgego, Finance Director
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
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(END) Dow Jones Newswires
February 19, 2019 02:01 ET (07:01 GMT)
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