Johnston Press PLC Property Disposal (7649G)

TIDMJPR

RNS Number : 7649G

Johnston Press PLC

01 June 2017

1 June 2017

Johnston Press plc

("Johnston Press" or the "Company")

Property Disposal

Johnston Press plc announces that it has signed an agreement for the sale of its freehold property Telegraph House in York Street, Sheffield (the "Sheffield Property") to Toscafield Property 2 Limited (the "Disposal").

The total consideration receivable by the Company on completion of the Disposal is GBP3.6 million in cash, with no deferred element. Completion is expected to take place by 30 June 2017. The proceeds will be retained by the Company for working capital purposes.

The Sheffield Property is currently occupied by some of the Company's sales and editorial staff, who will remain in the building for a short transitional period before moving to new fit-for-purpose premises.

The Sheffield Property has a book value of GBP1.9 million and the Disposal will result in a gain on disposal of GBP1.7 million before fees.

Market abuse regulation

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 
 Johnston Press 
 Ashley Highfield, Chief 
  Executive                   020 7612 2601 
 David King, Chief Finance 
  Officer                     020 7612 2602 
 
 Powerscourt 
 Juliet Callaghan / John 
  Elliott                     0207 250 1446 
 jp@powerscourt-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

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June 01, 2017 02:00 ET (06:00 GMT)

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