28 November 2005
Oak Holdings plc (`Oak' or `the Company)
SupperClub London Consultancy Agreement
Oak Holdings plc, the AIM listed property development and consultancy group, is
involved in bringing the popular international SupperClub concept to London.
Oak has entered into a consultancy agreement to oversee the development,
investment and management process of the project in return for consultancy
fees, comprising cash and a 10 per cent. equity stake in the London operation.
Future ventures are envisaged in the UK and overseas in which Oak will
participate on the same basis as in the London SupperClub, giving it a role as
equity holder and consultancy services provider.
Oak Chief Executive Stephen Lewis said: 'As one of the world's most creative
and vibrant cities, London is the ideal place to have the SupperClub concept so
we are delighted to be part of this exciting venture. SupperClub represents a
lifestyle, not just a category of food. Like in the Netherlands where
SupperClub's nine music compilations are among the top-selling CDs, the UK
hopes to exploit the brand and expects to sell its own CDs. Additionally,
SupperClub London expects to sell branded merchandise, build a valuable
advertising database and at a later date open a catering business.
'This agreement emphasizes our intention to build a solid platform of both
development and consultancy projects and highlights Oak's highly experienced
team's capabilities. We are intending to build on our consultancy service and
believe this will become a significant contributor to the business going
forward.'
ENDS
Contacts:
Stephen Lewis Oak Holdings plc Tel: 020 7493 5522
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477