CHS Chrysalis

 

TIDMCHS 
 
RNS Number : 1675I 
Chrysalis PLC 
05 March 2010 
 

 
5 March 2010 
Chrysalis PLC 
                          Disposal of Freehold Property 
 
 
Chrysalis PLC ("Chrysalis" or "the Company"), the leading independent music 
publisher, is delighted to announce that it has exchanged contracts for the 
disposal of its freehold property at Bramley Road, London, W10 6SP to the 
Cubemaker Partnership for a cash consideration of GBP6.8 million, 10% payable 
today with the balance due on completion.  Completion is expected to take place 
on 25 March 2010. 
 
Chrysalis will continue to be based at Bramley Road, having entered into a 5 
year lease for part of the building. 
 
The net proceeds, after expenses of sale, will be applied to partially unwinding 
our hedge instruments and reducing the Group's net debt.  The sale will result 
in a small profit over the net book value of GBP6.5 million as at 30 September 
2009, the date of the last audited balance sheet. 
 
Andy Mollett, Chief Financial Officer, Chrysalis PLC, said: 
 
"We are very pleased to have completed the sale with Cubemaker, an exciting and 
innovative property company.  We look forward to our building being revitalised 
and becoming a magnet for other media companies to the up and coming area around 
Notting Hill Dale." 
 
+-------------------+--------------+--------------------+----------------+ 
| Enquiries:        |              |                    |                | 
+-------------------+--------------+--------------------+----------------+ 
| Chrysalis PLC     | Jeremy       | Group Chief        | 020 7465 6170  | 
|                   | Lascelles    | Executive          |                | 
+-------------------+--------------+--------------------+----------------+ 
|                   | Andy Mollett | Group Finance      | 020 7465 6321  | 
|                   |              | Director           |                | 
+-------------------+--------------+--------------------+----------------+ 
|                   |              |                    |                | 
+-------------------+--------------+--------------------+----------------+ 
| Brunswick         | Dania Saidam |                    | 020 7404 5959  | 
+-------------------+--------------+--------------------+----------------+ 
|                   |              |                    |                | 
+-------------------+--------------+--------------------+----------------+ 
 
 
 
 
ABOUT CHRYSALIS PLC 
 
Chrysalis PLC is an independent music company.  The Group's principal areas of 
business comprise: Chrysalis Music Publishing which includes the Group's 
international network of music publishing companies, whose purpose it is to 
exploit and grow Chrysalis's rich catalogue of music copyrights; Chrysalis Non 
Music Publishing, which is made up of The Echo Label, a copyright exploitation 
company; Chrysalis Copyrights, the owner of certain Master recordings and 
Flatiron Management, an artist management company. Chrysalis PLC also owns Lasgo 
Chrysalis, a UK-based wholesale entertainment product distribution business 
which serves both domestic and overseas wholesale, retail and entertainment 
markets with CD, DVD and book products. 
 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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