IMImobile PLC - London-based software company - Completes review of its VAS and Payments units and has agreed to sell the VAS business unit to some members of the existing management team for GBP6.0 million in cash. IMImobile says GBP3.0 million is to be paid within six months of completion of the disposal, with the remaining GBP3.0 million due prior to the third anniversary of completion. The money will be used by the company for general corporate purposes.
IMImobile decides to wind down the activities of the Payments unit in the UK and US, which represent less than 2% of gross profit.
Current stock price: 594.00 pence
Year-to-date change: down 0.2%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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