CLS Holdings PLC

M&A Activity • Sep 21, 2017

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RNS Number : 3353R

CLS Holdings PLC

21 September 2017

CLS Holdings plc

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

Disposal of Benwell House, Sunbury-on-Thames

CLS Holdings plc announces that it has completed the disposal of Benwell House, Green Street, Sunbury-on-Thames to Spelthorne Borough Council for £9.25 million.  The property comprises 25,587 sq ft (2,377 sq m) and was let in its entirety to Schindler Limited until March 2017. Following the expiry of the lease, a strategic assessment of the building identified it as having potential for alternative uses in addition to its existing office use.  It was acquired by CLS in 2013 and was valued at 30 June 2017 at £7.5 million.

Fredrik Widlund, Chief Executive Officer of CLS, said:

"Since its acquisition four years ago, Benwell House has generated a good return for CLS, and we have now chosen to sell the building with the potential for a change of use and to reinvest the proceeds into assets that fit better with the Group's strategy."

For further information, please contact:

CLS Holdings plc     

www.clsholdings.com   +44 (0)20 7582 7766

Fredrik Widlund, Chief Executive Officer

John Whiteley, Chief Financial Officer

Liberum Capital Limited

+44 (0)20 3100 2222

Richard Crawley

Jamie Richards

Panmure Gordon (UK) Limited

+44 (0)20 7886 2500

Dominic Morley

Andrew Potts

Elm Square Advisers Limited   +44 (0)20 7823 3695

Jonathan Gray

Smithfield Consultants (Financial PR) +44 (0)20 3047 2476

Alex Simmons

This information is provided by RNS

The company news service from the London Stock Exchange

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