Eagle Leasing Limited

The Company is a wholly-owned subsidiary of Eagle Superco Limited. Eagle Superco Limited and its subsidiaries, including this Company, are collectively referred to as the Busy Bees Group of companies (‘the Group’). The Company’s principal activity is the rental of property to other group companies. During 2017 and 2018, the Group completed sale and leaseback transactions on 93 of its freehold and long leasehold properties with a third party (89 in 2017 and 4 in 2018). Proceeds from these transactions were £68.6m and the Group has entered into agreements to lease these properties back from the third party for 175 years through Eagle Leasing Limited, with an option to buy the properties back at the end of this period. Eagle Leasing Limited then leases these properties to the operating Group companies under operating leases. The directors do not expect any changes in this company's activities going forward.