Ted Baker PLC Completion of sale and leaseback of UBB (5982R)

TIDMTED

RNS Number : 5982R

Ted Baker PLC

30 June 2020

Ted Baker Plc ("Ted Baker" the "Company" or the "Group")

Completion of sale and leaseback of UBB

Ted Baker, the global British lifestyle brand, is pleased to confirm the completion of the sale of The Ugly Brown Building (the "UBB") to a wholly owned subsidiary of British Airways Pension Trustees Limited, for a cash consideration of GBP78.75 million. The net proceeds of at least GBP72.0 million (post tax) will be used to reduce the Group's indebtedness to the Group's lenders.

The proposed sale and leaseback of UBB was first announced on 23(rd) March 2020 and subsequently approved by shareholders at the general meeting held on 18(th) June 2020.

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For further information contact:

 
  Ted Baker 
 Peter Hearsey-Zoubie, Company Secretary 
 
 Tulchan Communications 
 Michelle Clarke/Jessica Reid 
 

Tel: [phone]

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June 30, 2020 11:55 ET (15:55 GMT)