CLI Cls Holdings Plc

RNS Number:1304I
Mezzanine Group PLC
29 March 2000


Mezzanine Group Plc ("Mezzanine" or "the Company")
Acquisition of freehold interests


Mezzanine is pleased to announce that it has agreed heads of terms
with CLS Holdings plc (the "Vendors") to acquire the freehold
interests of the following properties; Mezzanine, Fox's Lane in
Wolverhampton and Kartouche, Princes Street in Ipswich.  The
Company expects to exchange and complete this transaction within
six weeks.

The purchase price of the two properties is #4 million in
aggregate of which, #2.5 million is payable in cash and #1.5
million to be satisfied by the ordinary shares of 5p each in the
Company at a price of 53p per share.

Marios Georgallides, Chief Executive of Mezzanine commented "These
acquisitions represent an excellent opportunity for the Company to
secure the freehold to the Mezzanine and Kartouche clubs.
Furthermore, the acquisitions should reduce the annual rental
expense and improve the Company's cashflow."


For further information

Marios Georgallides  Chief Execeutive
Mezzanine Group plc                    0207 680 0400

Russell Cook
Teather & Greenwood Limited            0207 426 9000


END

ACQBDGDXLDDGGGC 

Cls (LSE:CLI)
Historical Stock Chart
From Jun 2024 to Jul 2024

Cls (LSE:CLI)
Historical Stock Chart
From Jul 2023 to Jul 2024