St James House PLC - Windsor, Berkshire-based IT services - Agrees to sell legal services subsidiary St Frances House Ltd to Bryncae Legal Ltd for GBP85,000 in cash.
Sale is in line with company's idea at required levels of ongoing investment into St Frances House would be better served in the payment services business.
Sale is expected to have a positive effect on St James House's cashflow over its current financial year.
Also, company is looking to enact a business plan to reduce costs, which includes an alignment of salary costs, and appoints a business development director, head of operations and internal operations manager for the payment services division.
Current stock price: 49.89 pence
Year-to-date change: up 25%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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