GCH Green China

RNS No 6456r
GOLF CLUB HOLDINGS PLC
21 May 1999


Golf Club Holdings plc ("Golf Club Holdings") is pleased to
announce today the acquisition of Wickham Park Golf Club
("Wickham Park"), an 18 hole pay and play operation near
Winchester.  The consideration of #1.1m will be satisfied as to
#900,000 in cash upon completion and the balance in two years'
time in shares to be issued at 25p per share, or, under certain
circumstances, in cash.  Wickham Park's latest published
accounts, for the year ended 30 September 1998, showed an
operating profit of #93,000 and assets of #942,000.

This acquisition brings Golf Club Holding's portfolio of golf
clubs and courses to six.  The location of Wickham Park, only 16
miles from South Winchester Golf Club, will provide
opportunities for increased management efficiency and membership
sales.

The Board is confident that this acquisition will be earnings
enhancing in 1999.


M P Knight
Chairman


Tel: 0171 491 4652 (office)

        0860 553 455 (mobile)


END

ACQNFLSFALNNEFN

Green China (LSE:GCH)
Historical Stock Chart
From Oct 2024 to Nov 2024

Green China (LSE:GCH)
Historical Stock Chart
From Nov 2023 to Nov 2024