[2025] EWHC 2275 (Ch)

I declare that on the true construction of Clause 16.1 of the SBA, the Defendants are entitled to receive Sites F and G, together with an additional site or sites and a balancing cash payment as required, the combined value of which is equal to the valuation of their aggregate shareholding.

I declare that on the true construction of Clause 16 and Schedule 4, the parties shall procure that PPL instructs Cooper Parry to provide tax advice upon the form of a demerger (to include, but not exclusively, consideration of a share capital reduction) that will minimise the tax burden as far as possible for each party.

There be a sale of the whole of Site A to the Claimants (or at their election PCo) for the sum of £7.3 million and subject to a mechanism whereby only D1 is paid for his 25% share.