The Board of MJ Gleeson plc (“Gleeson”) notes the recent press speculation and confirms that it has appointed Lazard to explore and advise it on a range of options for Gleeson's Strategic Land business (“Strategic Land”). During the course of this review, a number of third parties have expressed interest in the possibility of acquiring Strategic Land; it is possible that a sale of the business may ensue, but it is by no means certain that this will be the outcome of the review.
Gleeson's Strategic Land division is a land promotion business that enhances the value of land by securing mainly residential planning consents, predominantly in the South of England. The business's portfolio comprises 59 sites which could deliver 22,232 plots and 67 acres of commercial land.
A further announcement will be made if appropriate in due course.