German Contract Extension

RNS Number : 2485I

SpaceandPeople PLC

20 March 2018

 

SpaceandPeople plc

("SpaceandPeople" or the "Group")

German Contract Extension

SpaceandPeople plc (AIM:SAL) is pleased to announce that it has extended its agreement with GB Immobilien G.m.b.H. for the provision of Retail Merchandising Units ("RMUs") in ECE managed shopping centres in Germany (the "Agreement").

The Agreement has been extended for a further 12 months until 31 January 2019. The number of centres included in the extension period is fewer than in the previous period, however, this is in line with our expectations.

Matthew Bending, Group CEO of SpaceandPeople said: "This is our eighth year of working with ECE as a provider of RMUs in Germany. The agreement extension enables profitable trading without large minimum guarantees.  We have removed all the RMUs that have not traded profitably in the past and although only a one-year extension, it allows our new product and service time to be taken up by ECE and other landlords providing a flexible version of our service and scope to grow.

"Retail Profile GmbH has rebranded in Germany as PoPRetail.de and has created a fresh and vibrant image in the German pop up shop market. PoPRetail.de is the largest player in this market and as part of this new approach to our offer, we are looking to grow "Just in Time" RMUs which are only utilised at peak retail times. We will appraise the market as this initiative rolls out."

Ends

Contact details:

SpaceandPeople Plc	0845 241 8215
Matthew Bending, Gregor Dunlay
Cantor Fitzgerald Europe	020 7894 7000
David Foreman, Will Goode (Corporate Finance)
Alexander Pollen (Sales)

 

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