RE: Imtk10 Jan 2019 07:11
· the total consideration of $2.5 million is in excess of the market capitalisation of the Company as at the close of business on 8 January 2019 (being the last practicable date prior to this announcement) being £1.7million;
· the total consideration of $2.5 million is in in excess the estimated book value of the assets being disposed of which is approximately £2.0 million;
· the business under new ownership will have greater scale, a larger market presence and access to greater resources which should be to the benefit of its employees, customers and suppliers; and
· for shareholders it eliminates the risks of the business and allows the funds to redeployed in businesses with stronger growth prospects.