SpaceandPeople PLC Retail Profile Germany - ECE Contract Renewal (8095X)
May 06 2021 - 5:58AM
UK Regulatory
TIDMSAL
RNS Number : 8095X
SpaceandPeople PLC
06 May 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
SpaceandPeople plc
("SpaceandPeople" or the "Group")
Retail Profile Germany - ECE Contract Renewal
SpaceandPeople plc (AIM:SAL) is delighted to announce that it
has renewed its agreement with GB Immobilien G.m.b.H. ("ECE") for
the provision of Retail Merchandising Units ("RMUs") in ECE managed
shopping centres in Germany (the "Agreement").
The Agreement is for a five-year period until April 2026. The
number of RMUs included in the Agreement is a minimum of 58 RMUs in
30 shopping centres, with the aim of agreeing further venues and
RMUs throughout the contract period. The commercial terms of this
Agreement are attractive to both parties and the Group is looking
forward to accelerating the number of RMUs in operation as soon as
the venues reopen from lockdown.
Nancy Cullen, CEO of SpaceandPeople said: "This renewal of our
commercial partnership with ECE, our largest client in Germany is a
fantastic result for the Group and is testament to the great work
that the management team in Germany have delivered over the past
years. This Agreement will enable us to trade profitably without
large minimum guarantees and expand the amount of business we do
with ECE."
Hauke Hansen, Director of GB Immobilien G.m.b.H. said: "We are
delighted to be extending and expanding our relationship with
Retail Profile Germany for another five years. This new agreement
will allow us to offer vibrant RMU retailing throughout our
portfolio of shopping centres in Germany as soon as they begin to
reopen from lockdown."
For further information, please contact:
SpaceandPeople plc 0845 241 8215
Nancy Cullen / Gregor Dunlay
Zeus Capital Limited (Nominated Adviser and Broker) 020 3829 5000
David Foreman, Jamie Peel, Rishi Majithia
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END
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