Related party transaction

RNS Number : 6593M

LSL Property Services PLC

13 January 2023

 

LSL Property Services plc ("LSL")

Related Party Transaction

LSL Property Services plc ("LSL") has agreed the option price for the acquisition of the remaining 30% interest in RSC New Homes Limited ("RSC") having initially invested in the company in 2018. This includes acquiring 10% from Andrew Mannion an option holder who is also a related party.  The option price has been agreed by way of a variation to the 2018 put and call option agreement, and the transaction is a smaller related party transactions which falls within the provision of Listing Rule 11.1.10R, requiring this announcement to be released. 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. The option price has been set at 0.8m and the transaction completed on 12 January 2023. The acquisition has been through LSL's wholly owned subsidiary, your-move.co.uk Limited and was completed to facilitate LSL's sale of RSC to Pivotal Growth Limited which was announced on 13 January 2023.

For further information, please contact [e-mail]

 

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