Further to the announcement on 6th July, Johnston Press plc ('Johnston Press' or 'the Company'), is pleased to announce that it has today completed the sale of its titles on the Isle of Man to Tindle Newspapers Ltd, the UK based publisher, for £4.25m in cash ('the Disposal').

The Disposal, comprising the Isle of Man Examiner, Isle of Man Courier, Manx Independent and www.iomtoday.co.im, is in line with the Group's previously stated divestment strategy to align resources to brands and geographies offering the greatest growth opportunities. Proceeds from the Disposal will support the Company's on-going investment in preferred markets and further deleverage the Company.

Isle of Man Newspapers Limited recorded a profit before tax of £598,000 (£632,000 before exceptional items) for the year ended 31 December 2015 and had gross assets of £1.78m at that date.

Chief Executive Officer of Johnston Press, Ashley Highfield, said:

'This disposal is further progress in executing our divestment strategy and allows the group to realise immediate value from our Isle of Man assets.

Johnston Press plc published this content on 18 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 August 2016 15:50:05 UTC.

Original documenthttp://www.johnstonpress.co.uk/media/product-news/sale-isle-man-newspapers-limited

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