Johnston Press PLC Completion of disposal (3574U)
January 17 2017 - 5:34AM
UK Regulatory
TIDMJPR
RNS Number : 3574U
Johnston Press PLC
17 January 2017
Johnston Press plc
Completion of the disposal of 13 publishing titles and
associated websites in East Anglia and East Midlands for GBP17
million
Johnston Press plc ("Johnston Press") is pleased to announce
that it has completed the disposal of the entire issued share
capital of Johnston Publishing East Anglia Limited, which owns 13
publishing titles and associated websites in East Anglia and the
East Midlands, to Iliffe Media Limited for cash consideration of
GBP17.0 million (the "Disposal").
The Disposal was originally announced on 16 December 2016 and
was approved by shareholders of Johnston Press at a general meeting
on 11 January 2017.
Ashley Highfield, Chief Executive of Johnston Press said,
"This disposal marks a major milestone in our divestment
strategy and puts us firmly on the path of refocusing our
activities on areas with the greatest growth potential in our
selected geographic markets, audience profile and digital growth
areas. The Disposal also reduces our net debt, putting us on a
stronger financial footing."
For further information please contact:
Johnston Press
Ashley Highfield, Chief Executive
Officer 020 7612 2601
David King, Chief Financial Officer 020 7612 2602
Bell Pottinger
Dan de Belder / Henry Lerwill 020 3772 2500
Panmure Gordon (Sponsor and Joint
Broker)
Dominic Morley / Andrew Potts
/ Alina Vaskina (Corporate Finance)
Charles Leigh-Pemberton (Corporate
Broking) 020 7886 2500
Liberum (Joint Broker)
Neil Patel 020 3100 2000
Ingenious Corporate Finance (Financial
Adviser)
Toby Ramsden 020 7319 4159
Graham Smith 020 7319 4162
This information is provided by RNS
The company news service from the London Stock Exchange
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