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ACQUISITION OF 60% OF THE ISSUED SHARE CAPITAL OF RUSSELLS LIMITED AND 31,7% OF THE ISSUED SHARE CAPITAL OF RUSSELL HOMES LIMITED

The shareholders of Wilson Bayly Homes-Ovcon Limited (WBHO) are hereby advised that WBHO UK Limited, a wholly owned subsidiary of WBHO, has entered into an agreement through which it has acquired 60% of the issued share capital of Russells Limited for a consideration of £32,8 million and 31,7% of the issued share capital of Russell Homes Limited for a consideration of £3,25 million, with an effective date of 18 July 2018.

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