Related Party Transaction

RNS Number : 1062U

Leeds Group PLC

08 October 2010

 



Leeds Group Plc

("Leeds Group" or the "Company")

Related Party Transaction

Hemmers has supplied material to Der Stoff Stoffhandels GmbH ("Der Stoff"), a company who Jörg Hemmers (the Managing Director of one of the subsidiaries of the group) has an interest in. 

Der Stoff is a chain of 5 retail shops selling material and associated items based in cities across Germany.  The total sales to Der Stoff amount, in aggregate, to €328,000 and constituted approximately 69 small transactions over the course of approximately 12 months.  Der Stoff pays for the goods in cash pursuant to Hemmers normal terms of trade.

In accordance with the AIM Rules, the Directors of Leeds, having consulted with the Company's Nominated Adviser, Seymour Pierce Limited, consider that the terms of supply to Der Stoff, being Hemmers standard terms of supply, are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries:

Ewen Wigley                                                     Tel:  [phone]

Leeds Group plc

Freddy Crossley/Sarah Jacobs - Nomad              Tel:  [phone]

Leti McManus - Broker

Seymour Pierce Limited

 

END

 

 

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