LSL Property Services PLC Related Party Transaction
RNS Number : 9372Q
LSL Property Services PLC
03 March 2021
03 March 2021
LSL Property Services plc ("LSL")
Related Party Transaction
LSL Property Services plc ("LSL") has agreed the option price
for the acquisition of the remaining 5% interest in Group First Ltd
("Group First") having initially invested in the company in
The option price has been agreed by way of a variation to the
2016 put and call option agreement, with Stephen Partridge and Ian
Bush (the option holders) which results in the transactions being
smaller related party transactions for each of the option holders
and falls within the provision of Listing Rule 11.1.10R, requiring
this announcement to be released.
The option price has been set at GBP1.4m with the transaction
expected to complete in July 2021. Completion is subject to certain
conditions being satisfied and no further adjustments to Group
First's 2020 accounts. The acquisition will be through LSL's wholly
owned subsidiary, your-move.co.uk Limited.
The variation relates to the timing of the determination of the
option price and the date for the completion of the acquisition of
the shares including payment of the option price.
For further information, please contact
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(END) Dow Jones Newswires
March 03, 2021 02:00 ET (07:00 GMT)