Completion of Sale of Head Office Site

RNS Number : 2807L

Photo-Me International PLC

17 July 2017

 

17 July 2017

Photo-Me International plc
('Photo‐Me' or 'the Group')

Completion of Sale of Head Office Site  

Photo-Me, the instant service equipment group, has today completed the sale of its head office buildings in Bookham, Surrey. The freehold was sold to Shanly Homes Limited (SHL) for a consideration of £2.5 million. The book value of the land sold is £0.1 million and therefore the profit on the sale (before ancillary costs) amounts to approximately £2.4 million.

As previously announced, this disposal is part of the Group's review of its property portfolio in order to group the activities of its head office and UK operations into one location. This strategy will rationalise the Group's property footprint and will enable it to achieve further efficiencies in its UK operations.

The Group's new registered office is 3B Blenheim Road, Longmead Industrial Estate, Epsom, Surrey KT19 9AP.

Enquiries:

Photo-Me International plc:
Gabriel Pirona, CFO	+ 44 (0) 1372 453 399
Hudson Sandler (Financial PR)	[phone]
Wendy Baker/ Emily Dillon

Notes to Editors

Photo-Me International plc (LSE: PHTM) operates, sells and services a wide range of instant service vending equipment, primarily aimed at the consumer market.

The Group operates 48,000 vending units across 18 countries and its technological innovation is focused on three principal areas:

·     Identification: photobooths and integrated biometric identification solutions

·     Laundry: unattended laundry services

·     Kiosks: high-quality digital printing

In addition, the Group operates vending equipment such as children's rides, amusement machines and business service equipment.

The Group has built long-term relationships with major site owners and its equipment is generally sited in prime locations in areas of high footfall such as supermarkets, shopping malls (indoors and outdoors) and public transport venues. The equipment is maintained and serviced by an established network of 700 field engineers.

The Company's shares have been fully-listed on the London Stock Exchange since 1962.

 

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