Vancouver, BC / ACCESSWIRE / September 10, 2014 / Less Mess Storage Inc. (“Less Mess” or the “Company”) (TSX VENTURE:LMS) is pleased to provide a corporate update to its shareholders and the investing community. The corporate update can be accessed through the following link: https://accesswire.com/uploads/Corporate Update September 2014.pdf.
Highlights from the corporate update include:
- Since April 2014, when Less Mess acquired its five self-storage stores in Poland and the Czech Republic, occupancy rates have increased across all five stores and averaged 80% at the end of August;
- The Company has launched its new website at http://www.lessmess-storage.com/;
- All five stores are in the process of being re-signed and re-branded, with a particular focus on ensuring high visibility and simplifying the self-storage offer message to prospective customers;
- The Company has simplified its overseas corporate structure, which will reduce administrative costs and VAT leakage in the Czech Republic;
- The Company continues to investigate opportunities for new store sites in Warsaw and is currently negotiating acquisition prices and periods of exclusivity for several prospective locations;
- The Company also intends to add additional self-storage space to its Holesovice store in Prague; and
- The Company’s has completed a major IT upgrade and overhaul, which will result in significant cost savings.
About the Company
Less Mess Storage Inc. owns and operates the largest self-storage chain in Central and Eastern Europe, with a portfolio of five stores, two in Warsaw (both freehold) and three in Prague (two freehold, one leasehold), offering over 180,000 square feet of net lettable area. Total revenues in 2013 were over $4 million and average store occupancy was approximately 80%. The Company plans to add additional stores and rentable space in Warsaw and Prague in the future. The Company's registered and records office is located in Vancouver, British Columbia, its operations head office is located in Warsaw, Poland, and it also has offices in Prague, Czech Republic.
For further information, please refer to the Company's disclosure record on SEDAR (http://www.sedar.com/) or contact the Company by telephone at 778.999.7030.
ON BEHALF OF THE BOARD
“Guy Pinsent”
Guy Pinsent, President and CEO
Contact
Less Mess Storage Inc.
Peter Smith
VP Corporate Development
Phone: (778) 999-7030
The Howard Group Inc. (Investor Relations)
Jeff Walker/Ariel Cobangbang
[email protected]
[email protected]
Phone: (888) 221-0915 / (403) 221-0915
This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company’s business, plans, outlook and business strategy. The words “may”, “would”, “could”, “should”, “will”, “likely”, “expect,” “anticipate,” “intend”, “estimate”, “plan”, “forecast”, “project” and “believe” or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; changes in prices for the Company’s products and services; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties; and labour relations matters.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Except as required by law, the Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Less Mess Storage Inc.