Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Johnson Service Grp. (JSG)

  Print      Mail a friend       Annual reports

Wednesday 19 May, 2004

Johnson Service Grp.


Johnson Service Group PLC
19 May 2004

                                                                   19th May 2004

                           Johnson Service Group PLC

                  Acquisition of Sketchley Drycleaning Shops

Johnson Service Group PLC ('Johnson') announces the acquisition, through its
subsidiary Johnson Cleaners UK Ltd, of the entire issued share capital of
Sketchley Services Limited ('Sketchley'), from the Timpson Group ('the Vendor').

Sketchley Services Ltd is a new company to which carefully selected parts of the
business, assets and liabilities of the Vendor relating to the high street
drycleaning operation were transferred prior to acquisition by Johnson.  The new
company has a portfolio of 103 drycleaning shops, and retains the Sketchley
brand.  The Vendor will continue to use the Sketchley name under licence in
concession arrangements with one supermarket chain and certain Timpson shops in
the medium term.

The initial purchase consideration, on a debt free basis, will be a nominal £1.

Subject to agreement with the Inland Revenue, Sketchley will benefit from the
transfer of substantial tax losses following the reorganisation of the Vendor's
group. Johnson expects Sketchley to be able to realise cash benefits from the
crystallisation of these tax losses during the period 3 to 6 years from
completion and has agreed to pay to the Vendor, by way of additional deferred
consideration, a proportion of the cash benefits when received. This proportion
is limited to a maximum of  £5 million, and for the Vendor to receive this
maximum amount Sketchley would have previously realised, in aggregate, cash
benefits of £8.5 million. The deferred consideration would be satisfied by the
issue of loan notes 9 months after the end of the relevant accounting period in
which the losses are utilised.

The location of the Sketchley shops is complementary to the Johnson portfolio,
firmly establishes Johnson in London and strengthens coverage in the South and
South East of England.  After a period of refurbishment and reorganisation of
the Sketchley shops, there will be potential for Johnson to achieve cost savings
by spreading existing fixed overheads across a wider base and by increasing the
throughput of Johnson's specialist regional processing centres. The estimated
revenue cost of the reorganisation programme is up to £2 million in the current
year and the annualised present running level of turnover from the acquired
business is estimated at some £6.5 million.

Following the acquisition, Johnsons Cleaners will operate from circa 620 high
street, supermarket and drive-in locations throughout Great Britain.

Johnson CEO Stuart Graham said 'The Sketchley brand has suffered from lack of
direction and focus over recent years. We are however delighted to have been
able to acquire a new and clean operating company without the burden of
unoccupied property costs which has haunted the Sketchley business for a long
time.  We believe that the value of the acquired business will be significantly
enhanced by the introduction of Johnson's knowledge and operating procedures. '

David Bryant, Managing Director of Johnson Cleaners UK added  'I am pleased to
have acquired the Sketchley brand which is exceptionally strong in the south of
the country. The acquired Sketchley units which are outside of London will be
re-branded Johnsons and absorbed into our existing management structure. The
inner London shops will continue to be branded Sketchley.'

For further information, please contact:

Hudson Sandler                                                 Johnson Service Group PLC

Sandrine Boussard / James Benjamin                             Stuart Graham, CEO
Telephone: 020 7796 4133                                       Mike Sutton, CFO
                                                               Telephone: 0151 933 6161

Notes to editors - The Johnson Service Group

The Johnson Service Group has two principle activities: the traditional
businesses focusing on textiles and the recently established facilities
management operation. Over the last 2 years these core activities have been
developed and grown through a series of strategic acquisitions. The Company has
been extensively overhauled under the new Chief Executive Stuart Graham.

Textile related support services include Johnsons Apparelmaster, Britain's
leading launderer and hirer of workplace clothing; CCM  a manufacturer and
sourcer of workplace garments; Stalbridge Linen, Britain's leading linen
supplier to the leisure, professional catering and corporate hospitality sector;
Johnson Hospitality Services, recently acquired and expanded, the British market
leader in the hire of catering equipment, hospitality furniture and related
items to sporting, entertainment and similar events. Johnsons Cleaners,
Britain's No. 1 dry cleaning brand, and the newly acquired Sketchley provide a
nationwide network of circa 620 dry cleaning shops. Jeeves of Belgravia provides
an exclusive dry cleaning service within the London area.

The newly established facilities management division, through Johnson Workplace
Management, provides of a fully comprehensive range of services, utilising a
unique business model focusing on management and property expertise.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                           

a d v e r t i s e m e n t