Public Service Properties Inv Ltd Update on Disposal - additional consideration (7327L)

TIDMPSPI

RNS Number : 7327L

Public Service Properties Inv Ltd

30 April 2015

Public Service Properties Investments Limited

("the Company")

Update on the disposal of UK companies, businesses and assets - additional consideration

On 4 March 2015 the Company announced that the sale of its UK companies, businesses and assets to Embrace Group Limited ("Embrace") had completed. In the original announcement of the proposed disposal on 13 February 2015, the Company informed shareholders that additional deferred consideration of GBP2.5 million would be payable in cash by 31 December 2015 if Embrace was successful in tendering for certain ongoing domiciliary care contracts.

We are pleased to report that Embrace has notified the Company that it has been successful in this tendering and it has confirmed that, accordingly, this additional consideration has become due for payment by the end of this year. A further announcement will be made in due course.

For further information please visit www.pspiltd.com or call:

 
 Dr. D. Srinivas       Ben Mingay               Tom Griffiths 
  Ralph Beney           Philip Kendall           Henry Willcocks 
                        Sylvester Oppong 
 
  RP&C International    Smith Square Partners    Westhouse Securities 
  (Asset Manager)       (Financial Adviser)      (Nomad and 
  020 7766 7000         0203 696 7260            Broker) 
                                                 020 7601 6100

This information is provided by RNS

The company news service from the London Stock Exchange

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