LONDON (Thomson Financial) - Interactive Prospect Targeting Holdings Plc.
said it has sold the majority of its UK operations for 1.3 million pounds to investment company Volvere Plc., which is also assuming debt.
Interactive also said chief executive Lionel Thain and finance director Eoin Ryan are resigning to transfer with the UK operations being sold.
Interactive Prospect, which intends to change its name to Direct Excellence Holdings Plc., said it has reached an in-principle agreement to amend bank loan terms and is looking at all options for early repayment of the loan.
Interactive prospect is in active talks about the future of its remaining UK operations and plans to sell one of its French subsidiaries.
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