TIDMTEG

RNS Number : 3655T

Ten Entertainment Group PLC

20 March 2019

Ten Entertainment Group plc

('TEG' or the 'Group')

Conditional Acquisition Agreement for Southport Site

Ten Entertainment Group ('TEG' or 'the Group'), one of the UK's leading operators of family entertainment centres, today announces that it has conditionally agreed to acquire a well located existing site in Southport ('Acquisition').

The completion of the Acquisition is conditional upon inter alia the landlord entering into a licence with the seller to assign the site and obtain a deed of variation to the lease. Upon completion of the Acquisition the Group's estate will comprise 44 sites.

The Acquisition is consistent with the Group's growth strategy and TEG has a proven track record of integrating acquired sites and delivering good returns.

This site will benefit from further investment as a result of the 'Tenpinisation' process, bringing its operations, systems, technology and customer experience up to the market-leading standards of the Group's wider estate.

Duncan Garrood, Chief Executive Officer, commented:

"The site in Southport is a well-established centre in an excellent location. This addition is further evidence of the Group's ability to successfully execute its strategy as it continues to grow the estate through selective acquisition and by driving organic growth."

 
 Ten Entertainment Group plc        via Instinctif 
  Duncan Garrood, Chief Executive    Partners 
  Officer 
  Mark Willis, Chief Financial 
  Officer 
 Instinctif Partners                Tel: 020 7457 
  Matthew Smallwood                  2020 
  Tom Berger

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