Appreciate Group PLC Completion of sale of Valley Road (7130V)
11 Agosto 2020 - 01:00AM
UK Regulatory
TIDMAPP
RNS Number : 7130V
Appreciate Group PLC
11 August 2020
11 August 2020
Appreciate Group plc
Completion of sale of Valley Road
Appreciate Group plc, the UK's leading multi-retailer redemption
product provider to corporate and consumer markets, today confirms
that it has completed the sale of Budworth Properties Ltd, a Group
subsidiary which owns the land and buildings located at Valley
Road, Birkenhead to HP (Valley Road) Limited for a cash
consideration of GBP3.2 million ("the Disposal").
The land and buildings had been held on the Group's balance
sheet as an asset held for sale. The consideration for the
disposal, and the non-cash impairment charge of GBP1.8m , are in
line with our expectations of the carrying value to be reported as
at 31 March 2020 and the guidance on impairment charges that was
provided in the Group's year end trading update on 30 April
2020.
The transaction includes an agreement for Appreciate Group to
leaseback a small amount of space for its fulfilment operations at
Valley Road from HP (Valley Road) Limited .
END
For further information please visit
https://www.appreciategroup.co.uk or contact:
Appreciate Group plc Liberum MHP Communications
(NOMAD and broker)
Andy Hammerton, Head Richard Crawley Reg Hoare / Katie
of Corporate Affairs Jamie Richards Hunt / Charles Hirst
Ian O'Doherty, CEO
Tim Clancy, CFO
Tel: 0151 653 1700 Tel: 020 3100 2222 Tel: 020 3128 8193
Email: appreciategroup@mhpc.com
The information contained within this announcement is deemed by
Appreciate Group to constitute inside information as stipulated
under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
Notes to Editors:
Appreciate Group is one of the UK's leading gifting, pre-payment
and engagement companies, and experts at creating joyful
experiences and connecting people to the things in life they enjoy
the most.
Everything Appreciate Group does is focused on creating more joy
in the world, and it is proud to be trusted to help its customers
create moments they can treasure and remember, whether they are
giving, celebrating or rewarding.
Appreciate Group is a financial services business with a wide
portfolio of brands which provide solutions for its consumer and
business customers. Its consumer-facing brands meet a range of
prepayment and gifting needs, while its business products help
corporate customers reward and recognise their employees and
clients.
Appreciate Group is home to many of the country's most-loved
gifting, pre-payment and engagement solutions including Park
Christmas Savings, Highstreetvouchers.com and Love2shop, and we are
fast-becoming the home of digital innovation in gifting.
Whether it's saving towards the perfect family Christmas or
celebrating with gift cards and vouchers, we create and supply
products that millions of people trust when it comes to giving and
receiving with family, friends or colleagues.
Park Christmas Savings: As the UK's largest family Christmas
savings club, Park Christmas Savings has helped over 2.7 million
families budget for Christmas on a short-term or year-round
basis.
Love2shop: Love2shop offers gift cards and gift vouchers
available to spend at stores and attractions across the UK. They
are also used through our Love2shop Business Services providing
corporate partners with incentives and rewards for their employees
and clients.
Select Digital Gift Card: The UK's first fully digital
multi-retailer gift card, available to spend online or in-store
through your mobile wallet.
Appreciate Group plc's shares are traded on AIM, a market
operated by the London Stock Exchange.
The Park Prepayments Protection Trust is designed to increase
protection for customers' prepayments. The Trust has three
directors, two of whom are independent of Appreciate. Details of
the trust are set out here:
https://www.getpark.co.uk/CORPORATE/declaration.pdf
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.
END
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August 11, 2020 02:00 ET (06:00 GMT)
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