Holmes Investment Properties PLC receive multi-million-pound investment offer

Holmes Investment Properties PLC’s (HIP) the leisure and adventure park developer can announce that it’s leisure partner – Mr David Lloyd’s operating business – has received an outline offer to provide equity funding. The Investment Fund has proposed to invest £2 million in return for a 22.5% shareholding in Mr Lloyd’s operating company. This will replace the working capital funding requirement that Holmes Investment Properties PLC’s had committed, for working capital in Mr Lloyd’s operating company. This speeds up the funding process, which combined with other debt funding offers received will allow the acquisition and construction of the first of twelve adventure parks planned. If the investment proceeds then £1.2m of the monies will fund other acquisitions and developments of adventure parks. The terms of the offer assume an investment in the ordinary shares of Mr Lloyd’s operating company, which will be met by shares currently owned by HIP.

Each adventure park by Mr Lloyd will have plenty of space for internal and external activities from trampolines, soft play for under 5s, track gliders, zip wires and fun outdoors activities like crazy golf as well as bringing exciting new activities to the market. In addition, the new adventure parks will typically include relaxing picnic areas with BBQ pits for a great summer outdoors experience.

The investment offer means that HIP has now received enough funding to allow the first purchases and development of the adventure parks to commence. Shareholders will be updated shortly on sites being considered.

Holmes Investment Properties CEO, Martin Helme said: “This offer is a strong endorsement of our strategy to develop adventure parks with Mr Lloyd. The funding will allow HIP to meet 100% of its funding commitment to Mr Lloyd for working capital, and £1.2m to develop the parks. This also represents a significant capital gain on the valuation of our remaining stake in the operator. I would like to congratulate the team on the solid progress made to date with implementing our business plan.”