CLS Holdings PLC

Regulatory Filings • Oct 23, 2020

National Storage Mechanism | Additional information

RNS Number : 9809C

CLS Holdings PLC

23 October 2020

PRESS RELEASE

Release date:                23 October 2020

Embargoed until:           07:00

CLS Holdings plc ("CLS") announces

sale of Bismarckallee 18-20, Freiburg for €22.5 million

CLS announces that it has unconditionally exchanged contracts to sell Bismarckallee 18-20 in Freiburg for €22.5 million excluding costs, with completion expected in December 2020.

Bismarckalee 18-20 was acquired by CLS in 2013 and consists of 7,500 sqm (80,729 sq. ft) of office and retail space over nine floors. The building is 85% let to Volksbank Freiburg with the remainder let to TICS, a travel agency, and a computer shop on the ground floor. Whilst the building no longer fits the criteria for CLS' portfolio as it is not in one of the key target markets, it offers a significant opportunity for the buyer.

The sale, at a price 12.3% above the 30 June 2020 valuation, allows CLS to crystallise the returns on the asset while releasing capital to continue to reinvest in the portfolio and acquisition opportunities.

Commenting on the sale, Fredrik Widlund, Chief Executive Officer of CLS, said:

"The sale of Bismarckallee 18-20 secures a significant return for CLS while providing additional resources for further investment in our key markets. We continue to see significant opportunities for investment across the UK, Germany and France and remain confident in the long-term attractiveness of well-located, affordable offices in non-prime locations."

-ends-

For further information, please contact:

CLS Holdings plc

(LEI: 213800A357TKB2TD9U78)

www.clsholdings.com

Fredrik Widlund, Chief Executive Officer

Andrew Kirkman, Chief Financial Officer

+44 (0)20 7582 7766

Liberum Capital Limited

Richard Crawley

Jamie Richards

+44 (0)20 3100 2222

Panmure Gordon

Hugh Rich

+44 (0)20 7886 2733

Elm Square Advisers Limited

Jonathan Gray

+44 (0)20 7823 3695

Smithfield Consultants (Financial PR)

Alex Simmons

Rob Yates

+44 (0)20 3047 2546

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISFLFSTIRLFFII