Roadside Real Estate (ROAD): Cambridge Sleep Sciences exit

This situation live

£95m · 55.5p · −25% since the first step

Disposal of a part (break-up)

Cambridge Sleep Sciences exit

Two tranches received; third due Sept 2027

SEP1 Next: Third put tranche, £20m, exercisable in 312 days

Every step · 4

9 Feb 2026 Put option amended into three tranches – Under the revised timetable, up to approximately 29.0% of Roadside's current interest in CSS can be sold to CGV in the period 1 March 2026 to 31 March 2026... ↗
17 Feb 2026 Put exercise intended March 2026 – the Company intends to utilise both existing cash resources and monies received from the intended exercise of the put option with CGV Ventures 1 Ltd in... ↗
15 Jun 2026 Second tranche received; final tranche pending – The balance of Roadside's interest in CSS can be sold in the period from 1 September 2027 to 30 September 2027 for consideration of up to £20 million ↗
18 Jun 2026 Two tranches received; third due Sept 2027 – The balance of Roadside's remaining interest is expected to be sold, following exercise of the third tranche of the put option, in the period from 1... ↗

What is happening

Roadside Real Estate: Cambridge Sleep Sciences exit – Two tranches received; third due Sept 2027. ['Two tranches received; third due Sept 2027']

In short: Roadside is exiting its 48.2% stake in Cambridge Sleep Sciences through a put option with CGV Ventures 1 Ltd, restructured into three tranches on 9 Feb 2026. Tranche 1 (£14m) was exercised on 1 March 2026 and paid on 20 May 2026. Tranche 2 (£14m) was exercised on 1 June 2026 and paid on 13 June 2026. The final £20m is due in September 2027.
Announced: 9 Feb 2026 · Put option amended into three tranches
Latest: 18 Jun 2026 · Two tranches received; third due Sept 2027
Remaining stake: Up to £20 million for the balance of the CSS interest
Sale window: 1 September to 30 September 2027
Use of money: To facilitate completion of the Hoch Group acquisition
Tranche 1: £14m for 14% of CSS, exercised 1 March 2026, received 20 May 2026
Tranche 2: £14m for 14%, exercised 1 June 2026, received 13 June 2026
Tranche 3: £20m for the balance of the interest, window 1–30 September 2027
Minimum proceeds: Put option enables realisation of a minimum of £48 million in total
Option cost: Roadside paid CGV £1 for the option

Third put tranche, £20m, exercisable (1 Sep 2027).

From the company's own announcements. Not investment advice.

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What it does, how it got here, what management promised and delivered – written from its own announcements.

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