Tintra PLC - Windsor, Berkshire-based investment and advisor company formerly known as St James House - Enters head of terms for the sale of assets in Prize Provision Services Ltd, the company's Lottery Administration business to Sterling Management Centre Ltd.
Sterling owns www.sterlinglotteries.co.uk and is an external lottery manager based in the UK.
The business will be sold at a total ranging from GBP250,000 to GBP600,000, based on several factors.
"The board feels strongly that the deal that is anticipated under the heads of terms provides good value for shareholders for a number of reasons but not least when considered in line with results to year end 31 January 2021 during which the Lottery Administration Business made a loss before tax of GBP1,000 on revenues of GBP691,000 and had net liabilities of GBP237,000," the company says.
Current stock price: 90.30 pence, down 7.4% on Thursday
Year-to-date change: up sharply from 40p
By Dayo Laniyan; dayolaniyan@alliancenews.com
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