Roadside Real Estate PLC

("Roadside" or the "Company")

Disposal of pub estate

As set out in the interim results announcement of 27 June 2024, Roadside (AIM:ROAD) confirms the disposal of its four remaining pubs (the "Disposal"). The Disposal continues Roadside's stated strategy to refocus the business on Roadside Real Estate assets.

About the Disposal

-     Roadside has disposed of its four remaining pubs: The Bull Hotel, The Rose and Crown and The Eliot Arms (leaseholds) and operational responsibility for the Coach & Horses (freehold).

-     Roadside has agreed to terminate its existing leases, for nil cost, at The Bull Hotel, The Rose and Crown and The Eliot Arms.

-     The existing management team, via PS91 Hospitality Ltd, have agreed new leases with the landlords of these pubs and have assumed all operational responsibility.

-     Barkby Pub Co Ltd, a wholly owned subsidiary of the Company, retains the freehold for the Coach & Horses and has granted a lease to PS91 Hospitality Ltd to operate that pub.

-     No consideration was receivable by Roadside and no fees were paid to terminate the leases.

-     In the period ended 30 September 2023 the assets subject to the Disposal achieved a loss before tax of c.£0.8m (after allocation of central costs) and were held at a total carrying value of c.£0.2m.

Charles Dickson, Executive Chairman of Roadside, commented:

"We are pleased to have concluded the exit of our pub business and we continue to focus on the execution of our roadside real estate strategy."

- Ends -

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