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Depa announces disposal of interests in The Parker Company

Jun 20 ,2019

Depa PLC (“Depa”), the leading global interior solutions group, today announces that it has completed the disposal of its equity interests in The Parker Company. The cash consideration for the equity interests has been received in full.

Kevin Lewis, Depa’s Acting Group Chief Executive Officer, commented: “The disposal of our equity interests in The Parker Company is another major milestone in the Group’s non-core asset disposal programme. This disposal, together with the recent disposal of its interests in Lindner Middle East, further streamlines the Group’s structure and most importantly allows management to increase their focus on the Group’s core businesses.”

For further information, please contact:

Depa PLC
Tel: + 971 4 446 2100

Kevin Lewis, Acting Group Chief Executive Officer
Steven Salo, Group Chief Financial Officer

For more information, please refer to the corporate website: www.depa.com

Notes to editors:

Depa is a strategic management company specialising in global interior solutions. Depa’s four key business units hold leading positions in their respective markets: Design Studio, Vedder, Depa Interiors and Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on three regional hubs: Asia, Europe and the Middle East.

Depa’s mission, shared by each of its key business units, is to deliver sustainability, profitability and performance for its clients, shareholders and employees. The Group’s five core values are integral to everything Depa does: transparency, integrity, accountability, professionalism and exceptional service.

Depa PLC is listed on the Nasdaq Dubai (DEPA: DU) and is headquartered in Dubai, United Arab Emirates.

Cautionary statement:

This document may contain certain 'forward looking statements' with respect to Depa's financial condition, results of operations and business and certain of Depa's plans and objectives with respect to these items. By their very nature, forward looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events, and depend on circumstances, which may occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements. All written or verbal forward looking statements, whether made in this document or made subsequently, which are attributable to Depa or any other member of the Group or persons acting on their behalf are expressly qualified on this basis. Depa does not intend to update these forward looking statements.

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CONTACT US

Depa Group, Vision Tower,
35th Floor, P.O. Box 56338,
Dubai, U.A.E.
T: +9714-446-2100
F: +9714-446-2102
info@depa.com

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