Wetherspoon (JD) PLC
10 June 2003
JD WETHERSPOON PLC
PRESS RELEASE
JD Wetherspoon announces it has exchanged contracts for the Sale of seventeen
pubs to The Laurel Pub Company for a cash consideration of £10million.
Sixteen of the seventeen pubs were formerly part of brewery estates and the
average size is just over half the level of those pubs currently being
developed. The pubs have a net asset value of approximately £12.5million.
Accordingly, the results for the year ending 31 July 2003 will include an
exceptional loss of approximately £2.5million.
The disposal will not have a material affect on earnings.
Enquiries:
Tim Martin Chairman 01923 477777
John Hutson Managing Director 01923 477777
Jim Clarke Finance Director 01923 477777
Eddie Gershon Company Spokesman 0208 352 5012/
07956 392234
Visit our web site at www.jdwetherspoon.co.uk
9 June 2003
This information is provided by RNS
The company news service from the London Stock Exchange
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