Driver Group plc Disposal (9367E)
2017年5月12日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMDRV
RNS Number : 9367E
Driver Group plc
12 May 2017
DRIVER GROUP PLC
("Driver" or "the Group")
Disposal of South African Subsidiary
Driver Group plc ("Driver"), the provider of specialist
commercial and dispute resolution services to the construction and
engineering industries, is pleased to announce that it has
concluded an agreement to sell its subsidiary, Driver Trett South
Africa Pty Ltd ("DTSA"), to DTSA's local management team.
Driver has wholly-owned the business since October 2013. With
the clarification of the group strategy to focus on claims and
dispute resolution and expert witness work, DTSA, with its more
widespread focus and which has recently been loss-making, was
regarded as non-core with little immediate prospect of improved
performance under its current ownership structure.
In consideration for the disposal, Driver will become entitled
to receive the net proceeds of sale of the 300,000 Driver ordinary
shares currently owned by DTSA management. Driver has agreed to
write-off an inter-company balance due from DTSA totalling
GBP0.63m. Cash proceeds received from the sale will be utilised for
working capital purposes.
In FY16 DTSA had revenue of GBP3.59m and a loss before tax of
GBP0.55m with net liabilities of GBP0.18m as at 31 March 2017.
The disposal of DTSA to the local management team, being Gerhard
Bester and Christo de Witt, is classified as a related party
transaction. The Directors consider, having consulted with the
Company's Nominated Adviser, N+1 Singer, that the terms of the
transaction are fair and reasonable in so far as Driver's
shareholders are concerned.
Driver expects to announce its interim results on 23(rd) May
2017.
Enquiries:
Driver Group plc
Gordon Wilkinson (CEO)
Hugh Cawley (CFO)
+44 (0) 1706 223 999
N+1 Singer (Nominated Adviser & Broker)
Sandy Fraser
James White
Alex Laughton-Scott
+44 (0)20 7496 3000
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISLLFVTERILLID
(END) Dow Jones Newswires
May 12, 2017 02:00 ET (06:00 GMT)
Driver (LSE:DRV)
過去 株価チャート
から 6 2024 まで 7 2024
Driver (LSE:DRV)
過去 株価チャート
から 7 2023 まで 7 2024