Nexus Management Plc Disposal
2012年7月11日 - 4:45PM
RNSを含む英国規制内ニュース (英語)
TIDMNXS
11 July 2012
Nexus Management Plc
("Nexus" or "the Company")
Disposal of Resilience Technology Corporation
Further to the announcement made on 27 January 2012, Nexus Management Plc, the
AIM quoted provider of specialist IT Managed Services, is pleased to announce
that it has today sold Resilience Technology Corporation ("Resilience"), a
Delaware corporation and wholly owned subsidiary, to RTC Management LLC
("RTC"), a Delaware Limited Liability Company set up by the management team of
Resilience for the purposes of the transaction ("the Disposal"). The
consideration for the sale is GBP500,000 and in addition RTC has assumed third
party net liabilities totalling approximately GBP850,000.
Reasons for the Disposal
As announced previously the Company commenced a strategic review on 1 November
2011 in an attempt to maximise value for shareholders. The sale of Resilience
has been explored as part of this review process and after investigating a
number of potential options it has been decided that a management buyout by the
current management team of Resilience offered the best value.
As highlighted in the Chairman's Statement in the final results for the year
ended 30 September 2011, the Board has recognised the "need for change" to
drive further cost cutting measures and maximise the value of historic
investment in people and operations and we believe that the sale of Resilience
matches with these ambitions.
The Disposal will allow the Board to focus on the Company's US and UK IT
managed services businesses.
Further details about the Disposal
Resilience recorded a loss before taxation of GBP290,000 in the year ended 30
September 2011 and its net liabilities at that date were approximately GBP1.7
million. Included in the net liabilities at that date was an inter-company
creditor balance of approximately GBP2 million which will be written off as part
of the transaction.
The Company anticipates that the profit/loss on disposal, which will be
recorded in the accounts for the year ended 30 September 2012, is expected to
be broadly breakeven.
The proceeds from the Disposal will be used to reduce the indebtedness of the
Company and for working capital generally.
Related Party Transaction
Sean Scott, the chief executive officer of Resilience, is a director and
shareholder of RTC, the result of which is the Disposal is classified as a
Related Party Transaction under the AIM Rules.
The Independent Directors, having consulted with the Company's Nominated
Adviser, Merchant Securities Limited, consider the terms of the Disposal to be
fair and reasonable insofar as the Company's shareholders are concerned. In
advising the Independent Directors, Merchant Securities Limited has taken into
account the commercial judgement of the Independent Directors.
M Barney Battles, Executive Chairman of Nexus Management commented:
"During the first half tight cost control on our part mitigated the effects of
lower revenues at Resilience. However, we feel that a sale of the business to
its current management leaves us in a stronger position to drive the remaining
trading operations forwards.
"Our core managed services businesses continue to perform well. We are focused
on developing these businesses and exploring further opportunities to generate
shareholder value."
FURTHER ENQUIRIES
Nexus Management Plc
M Barney Battles Tel: +44 (0)778 976 6242
Merchant Securities Ltd (Nomad)
Simon Clements/David Worlidge Tel: +44 (0)20 7628 2200
Bishopsgate Communications Ltd
Nick Rome/Sam Allen Tel: +44 (0)20 7562 3350
Notes to Editors
Nexus is an IT Managed Services Provider specialising in reducing the cost and
complexity of IT for companies. Nexus has been a pioneer in cloud computing and
virtualization with many customers benefiting from these modern disciplines.
Nexus operates in two key markets: Europe and the US, where it can offer
customers 24 hour help desk support, Remote Server Management, Wide Area
Network Management, equipment monitoring, Disaster Recovery, Data Storage and
Desktop Support, and through its Resilience Technology Corporation subsidiary
(www.resilience.com), bullet-proof network security.
Resilience has since 1985 delivered network security appliances with the most
advanced operating system. RES/OS boasts such features as open systems
flexibility and life cycle management innovations for mission-critical
applications. Resilience's high performance solutions are designed for network
environments where availability is essential and security must not be
compromised.
Nexus is incorporated in the United Kingdom and its shares are quoted on the
London Stock Exchange (AIM).
http://www.nexusmanagementplc.com/
END
Nexus Management (LSE:NXS)
過去 株価チャート
から 5 2024 まで 6 2024
Nexus Management (LSE:NXS)
過去 株価チャート
から 6 2023 まで 6 2024
Real-Time news about Nexus Man (ロンドン証券取引所): 0 recent articles
その他のNexus Managementニュース記事