LMR Luminar Grp

RNS Number:4022U
Luminar PLC
21 November 2005


Luminar plc

Acquisition of 10 clubs from The Nightclub Company


Luminar has agreed to purchase 10 large capacity nightclubs from the Nightclub
Company Limited for a consideration, payable in cash, of #9.8m. This represents
3.5x historic earnings.



Luminar is acquiring strategically important sites, most of which it expects
will be suitable for rebranding to the Company's existing brands of Oceana, Lava
& Ignite, Liquid and Life.  The venues are located in Leeds, Cheshire Oaks,
Leicester, Wolverhampton, Cardiff, Watford, Uxbridge, Kingston upon Thames,
Brighton and Plymouth.  The purchase increases Luminar's licensed capacity by
more than 10%.  The businesses purchased by Luminar employ 400 staff.



The venues have the benefit of all appropriate statutory consents, including
extended trading hours, effective from the implementation date of the Licensing
Act 2003 on 24th November 2005.  The assets acquired include the lessee's
interest in the properties, fixed and loose plant and equipment together with
the inventory of the businesses valued at approximately #250,000.



Luminar has noted press speculation over the sale of its Entertainment Division.
The Company repeats its statement made in July of this year that it had
withdrawn that business from a disposal process, appointed new management and is
now focusing on restoring the performance of the business.



This acquisition significantly enhances Luminar's position as the UK's leading
operator of late night licensed venues.





                                                               21 November 2005

Enquiries:


Luminar plc
Stephen Thomas, Chief Executive
Nick Beighton, Finance Director                  Tel:      01908 544100


College Hill
Matthew Smallwood                                Tel:      020 7457 2020


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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