Marlowe PLC Disposal of non-core assets (5583N)
21 January 2019 - 6:00PM
UK Regulatory
TIDMMRL
RNS Number : 5583N
Marlowe PLC
21 January 2019
21 January 2019
Marlowe plc
Disposal of non-core assets
Marlowe plc ("Marlowe" or the "Group"), the support services
group focused on acquiring and developing companies that provide
regulated inspection, testing and compliance services, announces
that is has sold certain non-core assets for a cash consideration
of GBP2.3 million.
The assets comprise two contracts to produce specialist chemical
products with applications in healthcare and clinical disinfection
that were acquired as part of the Group's GBP4.5 million
acquisition of Suez Water Conditioning Services Limited as
announced on 28 August 2018.
In the year ended 31 December 2017 the two contracts generated
unaudited revenues of GBP0.6 million and an estimated gross profit
contribution of GBP0.2 million. The proceeds of the sale will be
used for general corporate purposes.
For further information:
Marlowe plc www.marloweplc.com
Alex Dacre, Chief Executive Tel: +44 (0) 203
813 8498
Mark Adams, Group Finance Director IR@marloweplc.com
Cenkos Securities plc (Nominated Adviser and Broker)
Nicholas Wells Tel: +44 (0)20 7397
8900
FTI Consulting
Nick Hasell Tel: +44 (0)20 3727
1340
Alex Le May
About Marlowe plc
Marlowe is a UK leader in specialist services which assure the
safety and regulatory compliance of commercial properties, whilst
managing risk for businesses across the country. The company was
formed to create sustainable shareholder value through the
acquisition and development of businesses that provide regulated
inspection, testing and compliance services. It is focused on
health & safety, fire safety, security, water safety, water
treatment, air quality and environmental services - all of which
are vital to the wellbeing of its customers operations and are
invariably governed by regulation. Marlowe currently provides
services to over 10% of Britain's commercial properties and is
increasingly attractive to customers who require a single
outsourced, nationwide, provider of a comprehensive range of
regulated safety services. Our customers can be found in most
office complexes, high streets & leisure facilities,
manufacturing plants and industrial estates, and include SMEs,
local authorities, facilities management providers, multi-site NHS
trusts and FTSE 100 companies.
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END
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