SAF Safeland

TIDMSAF

RNS Number : 1037J

Safeland PLC

15 December 2015

Safeland plc ("Safeland" or the "Company")

Acquisition

Safeland is pleased to announce that its wholly owned subsidiary, Cloverdale Estates Limited, has exchanged contracts to purchase a substantial detached freehold house in a prime location in Hampstead Garden Suburb, London N2 for a consideration of GBP6.225 million in cash. The consideration will be funded by a combination of debt from the Company's existing bank facilities and the Company's own cash.

The Company plans a comprehensive refurbishment of the property, which is expected to take approximately 9 months to complete, prior to seeking to onward sell the property. Completion is expected to take place on 30 March 2016.

For further information, please contact:

Safeland plc +44 (0)20 8815 1600

Larry Lipman, Managing Director

Colin Stone, Finance Director

   Westhouse Securities Limited                                             +44 (0)20 7601 6100 

Tom Griffiths

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 15, 2015 05:37 ET (10:37 GMT)

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