Smaller related party transaction

RNS Number : 6128K

Lookers PLC

31 December 2015

 



31 December 2015

Lookers plc

Smaller related party transaction

Lookers plc ("Lookers" or "the company") announces that on 30 December 2015, the company sold a Toyata business in Leeds, a Toyota business in Wakefield and a Lexus business in Leeds, to Meridian Motor Group Limited ("Meridian").

Phil White, the chairman of Lookers is a 30% shareholder in Meridian which is therefore a related party to the company under Listing Rule 11.1.4. The aggregate amount paid by Meridian for the three businesses is £12.68 million.

The disposal is a smaller related party transaction under Listing Rule 11.1.10 and Numis have independently confirmed that it is fair and reasonable so far as the company's shareholders are concerned.

 

For further information:

Lookers plc	Telephone: [phone]
Andy Bruce, Chief Executive
Robin Gregson, Finance Director
Tavistock	Telephone: [phone]
Emma Blinkhorn, Matt Ridsdale

 

END

 

 

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