Ashley (Laura) Hldgs PLC Sale of Laura Ashley Hotel, The Manor (8628K)

TIDMALY

RNS Number : 8628K

Ashley (Laura) Hldgs PLC

18 December 2018

18 December 2018

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Laura Ashley Holdings plc (the "Company" or "Laura Ashley")

Sale of Laura Ashley Hotel, The Manor

The Board wishes to announce today the sale of Laura Ashley Hotel, The Manor in Elstree (the "The Manor") to Elstree Mill Limited for a cash consideration of GBP6 million. Contracts are exchanged and completion will be on 31 January 2019.

The Manor was acquired by the Company in 2011 for a consideration of GBP5.8 million.

Laura Ashley will continue to expand, both domestically and internationally, into the hospitality business under license and franchise. Currently, it has four Laura Ashley licensed Tea Rooms and one Laura Ashley licensed hotel, The Belsfield in Windermere.

The sale proceeds will be used for general working capital purposes.

Enquiries:

 
KC Ng / Seán Anglim              Laura Ashley                020 7880 5100 
Anita Scott / Helen Smith             Brunswick                   020 7404 5959 
Rick Thompson / Catherine Leftley     Cantor Fitzgerald Europe    020 7894 7000 
 
 

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December 18, 2018 10:00 ET (15:00 GMT)