CLS Holdings PLC

Regulatory Filings • Apr 15, 2014

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RNS Number : 8767E

CLS Holdings PLC

15 April 2014

Release date:                15 April 2014

Embargoed until:            Immediate

CLS Holdings plc

("CLS", the "Company" or the "Group")

announces the disposal of Cambridge House, Hammersmith, London W6

CLS Holdings plc announces that the Group has sold Cambridge House, 100 Cambridge Grove, London W6 for £29.5 million, excluding costs, an uplift of 65 % over the half year 2013 external valuation and 32% over the year end external valuation.  The sale price represents a net initial yield of 2.34% for the property which, considered a development site, is 50% vacant.

Sten Mortstedt, Executive Chairman of CLS, commented:

"We are very pleased with the sale of Cambridge House, yet another transaction completed at a price substantially higher than recent external valuations. This is evidence of the continuing strength of the London market from which the Company is well placed to benefit."

-ends-

For further information, please contact:

CLS Holdings plc                                                         +44 (0)20 7582 7766

www.clsholdings.com   

Sten Mortstedt, Executive Chairman

Henry Klotz, Executive Vice Chairman and Acting CEO

John Whiteley, Chief Financial Officer

Liberum Capital Limited                                             +44 (0)20 3100 2222

Tom Fyson

Charles Stanley Securities                                          +44 (0)20 7149 6000

Mark Taylor                                                                  

Kinmont Limited                                                          +44 (0)20 7087 9100

Jonathan Gray

Smithfield Consultants (Financial PR)                         +44 (0)20 7903 0669

Alex Simmons

This information is provided by RNS

The company news service from the London Stock Exchange

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