LSL Property Services PLC Related party transaction (6593M)

TIDMLSL

RNS Number : 6593M

LSL Property Services PLC

13 January 2023

LSL Property Services plc ("LSL")

Related Party Transaction

LSL Property Services plc ("LSL") has agreed the option price for the acquisition of the remaining 30% interest in RSC New Homes Limited ("RSC") having initially invested in the company in 2018. This includes acquiring 10% from Andrew Mannion an option holder who is also a related party. The option price has been agreed by way of a variation to the 2018 put and call option agreement, and the transaction is a smaller related party transactions which falls within the provision of Listing Rule 11.1.10R, requiring this announcement to be released. The variation relates to the timing of the determination of the option price and the date for the completion of the acquisition of the shares including payment of the option price. The option price has been set at GBP0.8m and the transaction completed on 12 January 2023. The acquisition has been through LSL's wholly owned subsidiary, your-move.co.uk Limited and was completed to facilitate LSL's sale of RSC to Pivotal Growth Limited which was announced on 13 January 2023.

For further information, please contact investorrelations@lslps.co.uk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCSFFSMDEDSELF

(END) Dow Jones Newswires

January 13, 2023 05:00 ET (10:00 GMT)

Lsl Property Services (LSE:LSL)
Historical Stock Chart
From May 2024 to Jun 2024