DGAP-News: Holmes Investment Properties PLC: HIP Plc reports strong progress in 2018

Holmes Investment Properties Plc

("HIP", "the Group" or "the Company")

Holmes Investment Properties Plc (Berlin: J16), the UK property investment company focused on the leisure sector, announces its Annual Report and Financial Statements for the year ended 31 March 2018.

The full Annual Report and Financial Statements can be accessed via the Company's website at https://hipplc.com/investors/reports-and-accounts/

Financial Highlights

- Group gross assets at year-end March 2018 of £55.8 million GBP, representing principally the value of HIP's investments and contracts.

- Acquisition of first operating venue, Ashtour Limited, a long-standing adventure golf course based in Croydon, South London, for £0.5million.

- Loan note of £0.3million converted into shares in David Lloyd's Adventure Parks Ltd (trading under "Adrenaline World") representing a 15% shareholding.

- The Company incurred an operating loss of £1million and interest expense of £0.1m.

- The Company had cash of £0.2m at 31 March 2018 and since the year end, a £5million secured 8.5% bond has been issued (January 2019) and we are on course to raise the first £0.5million.

Operational Highlights

During the year;

- Second key partnership signed with Everyone Entertained Ltd, for the launch and operation of #EveryoneEntertained leisure venues.

- Four Adrenaline World sites identified and on course to open in the next 12 months.

- Since the year end a new and strengthened Executive Management team has been put in place.

- Planning permission has been granted for the first #EveryoneEntertained venue in the North-East with venue set to open in late 2019.

Michael Simmonds, CEO of HIP Plc, commented: "2018 has been a year of key strategic developments for HIP. With a newly strengthened management team in place, the Company has made significant progress in sourcing, funding and developing our portfolio of leisure destinations across the UK.

"We were delighted to announce the acquisition of Ashtour Limited in February 2018, our first operating venue, which continues to be a popular leisure destination. We are pleased to report that, since the acquisition, we have identified further opportunities for its development and enhancement in order to increase revenues.

"Having secured partnerships with two high quality leisure operators, David Lloyd's Adventure Parks and Everyone Entertained Ltd, we are now pressing ahead with expansion plans for each company and look forward to identifying additional sites and announcing the opening of the first venues later this year.

"We are very pleased with the progress with have made over the course of the year and would like to thank Shareholders for their continued support as we remain focused on building a long-term and sustainable business which delivers value."

Enquiries:

HIP Plc
Martin Eberhardt, Chairman

Yellow Jersey
Charles Goodwin
Georgia Colkin +44 77825 916 715
hip@yellowjerseypr.com

Notes to Editors

Holmes Investment Properties Plc

Holmes Investment Properties Plc (Berlin: J16), a UK property investment company focused on the leisure sector, listed on the Berlin Stock Exchange in 2011.

Through its subsidiary, UK Adventure Parks Limited and its holding in Everyone Entertained Limited, HIP plans to work with leisure operators to source leases on existing properties and / or source plots of land, acquire sites under option agreements, gain planning consents, build the leisure centre site to the operator's specification and maximise their returns, against a pre-agreed long-term lease with an agreed yield.

As the leisure market continues to grow, along with the number of leisure centres in the UK, HIP intends to partner with fast growing companies, aiming to develop a minimum of 12 leisure centres over the next 5-6 years, significantly enhancing the Company's balance sheet.