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LONDON (Alliance News) - Scholium Group PLC on Wednesday said it has entered into a deal to sell its South Kensington operations to a company controlled by an existing director.
Scholium will sell the assets, comprising its South Kensington Books and Ultimate Library units, to a company controlled by director Philip Blackwell for GBP140,000.
It said the sale will mean it can focus on its rare and collectible goods business and said the proceeds will be used to provide working capital for those businesses.
Shares in Scholium were untraded Thursday morning, having last traded at 46.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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