Disposal & Retail Bond Repayment

RNS Number : 1391X

CLS Holdings PLC

04 May 2016

 

4 May 2016

CLS Holdings plc ("CLS")

completes on the disposal of Vänerparken,

and repays Swedish retail bond

CLS Holdings plc announces that it has completed the disposal of its only remaining investment property in Sweden.  The 418,800 sq ft (38,900 sqm) mixed-use office, educational, residential, leisure and medical complex Vänerparken, Vänersborg has been sold to Bengt Linden AB for SEK 590 million.

In a separate transaction, CLS has redeemed at par its SEK 300 million bond due 2016.  The bond, which was issued in April 2011, was repaid on maturity on 27 April 2016 from the Company's cash resources.

Henry Klotz, Executive Chairman of CLS Holdings plc, commented:

"We are delighted to have completed on the sale of Vänerparken following a number of lease renewals in 2015.  The repayment of our Swedish bond is a natural consequence of selling our only investment property in Sweden."

-ends-

For further information, please contact:

CLS Holdings plc                                                                               www.clsholdings.com Henry Klotz, Executive Chairman Fredrik Widlund, Chief Executive Officer John Whiteley, Chief Financial Officer Sten Mortstedt, Executive Director	[phone]
Liberum Capital Limited Tom Fyson	[phone]
Panmure Gordon (UK) Limited                                                          Dominic Morley Andrew Potts	[phone]
Kinmont Limited                                                                                Jonathan Gray	[phone]
Smithfield Consultants (Financial PR)                                               Alex Simmons	[phone]

 

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