Holmes Investment Properties PLC, GB00B61DTR94

Holmes Investment Properties PLC, GB00B61DTR94

19.07.2017 - 08:01:07

Holmes Investment Properties PLC Receives Equity Investment Offer

Holmes Investment Properties PLC Receives Equity Investment Offer

Holmes Investment Properties PLC (HIP), the leisure and adventure park developer has received an outline offer to provide equity funding into Mr David Lloyd's operating business. The Investment Fund has proposed to invest £2 million into the operating company in return for a 22.5% shareholding. This will fully fund Holmes Investment Properties PLC's commitment for working capital in Mr Lloyd's operating company, which combined with other debt funding offers received will allow the acquisition and construction of the first of twelve adventure parks planned. If the investment proceeds then £1.2m of the monies will fund other acquisitions and developments of adventure parks. The terms of the offer assume an investment in the ordinary shares of Mr Lloyd's operating company, which will be met by shares currently owned by HIP.

Each adventure park by Mr Lloyd will have plenty of space for internal and external activities from trampolines, soft play for under 5s, track gliders, zip wires and fun outdoors activities like crazy golf as well as bringing exciting new activities to the market. In addition, the new adventure parks will typically include relaxing picnic areas with BBQ pits for a great summer outdoors experience.

The investment offer means that HIP has now received enough funding to allow the first purchases and development of the adventure parks to commence. Shareholders will be updated shortly on sites being considered.

Holmes Investment Properties CEO, Martin Helme said: "This offer is a strong endorsement of our strategy to develop adventure parks with Mr Lloyd. The funding will allow HIP to meet 100% of its funding commitment to Mr Lloyd for working capital, and £1.2m to develop the parks. This also represents a significant capital gain on the valuation of our remaining stake in the operator. I would like to congratulate the team on the solid progress made to date with implementing our business plan."

Contact:

Martin Helme, Chief Executive Officer +44 (0)7779 601541 or +44 (0)203 709 7120Martin@hip-prop.co.uk

Murray Harkin, The Lyndon Agency +44 (0)77852 54639Murray@thelyndonagency.com

19-Jul-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: Holmes Investment Properties PLC 53 Davies Street W1K 5JH London

United Kingdom Phone: + 44 203 709 7120 E-mail: david@hip-prop.co.uk Internet: www.hip-prop.co.uk ISIN: GB00B61DTR94 WKN: A1H654 Listed: Regulated Unofficial Market in Berlin   End of Announcement DGAP News Service

593791  19-Jul-2017 CET/CEST

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