Related Party Transaction

RNS Number : 7725K

Leeds Group PLC

24 December 2008

 



Leeds Group Plc 

('Leeds Group' or the 'Company')

Related Party Transaction

During the financial year 01/10/07 to 30/9/08 the Company's principal trading subsidiary, Hemmers-Itex Textil Import Export GmbH ('Hemmers') has supplied fabric to Stoff Ideen KMR GmbH ('KMR'), a company which Thorsten Richter (the Finance Director of Hemmers) has an interest in.  

KMR is a chain of 15 retail shops selling material and associated items based in cities in the middle and south of Germany. The total sales to KMR amount, in aggregate, to €466,630 and constituted approximately 70 small transactions over the course of the 12 months. KMR pay for the goods in cash pursuant to Hemmers' normal terms of trade.

In accordance with the AIM Rules, the Directors of Leeds Group, having consulted with the Company's Nominated Adviser, Seymour Pierce Limited, consider that the terms of supply to KMR, being Hemmers' standard terms of supply, are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries:

Ewen Wigley                                  Tel: [phone]

Chairman 

Leeds Group Plc

Sarah Jacobs/Catherine Leftley        Tel: [phone]

Seymour Pierce Limited

 

END

 

 

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