TIDMCLI

RNS Number : 3024M

CLS Holdings PLC

06 May 2015

CLS Holdings plc

("CLS", the "Company", the "Group")

CLS Holdings plc announces acquisition of

EUR24.4 million office building near Munich, Germany

CLS Holdings plc announces that it has unconditionally exchanged contracts to acquire a fully-let office building near Munich, Germany for EUR24.4 million. The scheme is let to eleven tenants and it generates a rental income of EUR2.0 million, equating to a net initial yield of 7.9%.

Germany is one of CLS Holdings's core markets and it accounts for approximately 17% of the Group's total portfolio. CLS Holdings's investment strategy has long been characterised by a willingness to be opportunistic and this acquisition sees the Company drawing on its strong local market knowledge to secure a site in an established business district near Munich.

The scheme is located in the municipality of Unterfoehring - approximately 8 km northeast of Munich's city centre - and provides 14,630 sqm of high-quality offices and 252 car parking spaces. It is currently 100% let with notable tenants including Sky Deutschland, Kabel Deutschland, and the Bavarian Academy of Television. Completion is due in mid-June.

Sten Mortstedt, Executive Chairman of CLS Holdings plc, commented:

"I am delighted that we have secured this building in Unterfoehring, Munich, which provides an excellent long-term income stream from blue-chip tenants. We continue to see potential in Germany and this acquisition will further enhance our offering in that market."

-ends-

For further information, please contact:

   CLS Holdings plc                                                         +44 (0)20 7582 7766

www.clsholdings.com

Sten Mortstedt, Executive Chairman

Henry Klotz, Executive Vice Chairman

Fredrik Widlund, Chief Executive Officer

John Whiteley, Chief Financial Officer

   Liberum Capital Limited                                             +44 (0)20 3100 2222

Tom Fyson

   Charles Stanley Securities                                          +44 (0)20 7149 6000

Mark Taylor

   Kinmont Limited                                                          +44 (0)20 7087 9100

Jonathan Gray

   Smithfield Consultants (Financial PR)                       +44 (0)20 7903 0669

Alex Simmons

This information is provided by RNS

The company news service from the London Stock Exchange

END

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