MJ Hudson Group PLC - London-based asset-management consulting company - Agrees to sell its Data & Analytics and Business Outsourcing Divisions - substantially all of its remaining operating divisions - to Apex Group in a cash deal worth GBP40 million. Says proceeds will be used to reduce debt and it is highly unlikely that there will be a substantial, or any, amount available to shareholders following payment of all creditors and costs. Plans to seek shareholder approval to cancel shares on AIM which, if approved, is expected to occur on May 12. Intends to notify the Solicitors Regulation Authority of the proposed closure of its legal business.
Current stock price: Suspended in December
By Jeremy Cutler, Alliance News reporter
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