4 Nov 2016 14:00
Not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.
For Immediate Release |
4 November 2016 |
Bond International Software plc
(the "Company")
Completion of sale of Recruitment Software Subsidiaries
and
Resignation of Director
Further to the announcements on 22 October 2016 and 31 October 2016, Bond International Software plc is pleased to announce the completion of the sale of its Recruitment Software Subsidiaries, comprising Bond International Software (UK) Limited ("Bond UK"), Bond International Holdings Inc, Bond International Software Pty Limited, Bond International Software China Ltd, Bond International Software (Singapore) Pte. Ltd and Bond International Software KK., to Hockliffe Limited and Bond US Inc. and receipt of the cash consideration of £24.1m. The Company is also pleased to announce the completion of the sale of its real estate asset, comprising the Company's registered office and Bond UK's office, for a consideration of £1.8m.
Following the disposal of the Recruitment Software Subsidiaries, Tim Richards has resigned from the Board of the Company with immediate effect to continue his career with the Recruitment Software Subsidiaries.
Chairman Martin Baldwin commented: "We would like to thank Tim for his very considerable contribution to the Company over the last 19 years and wish him well for the future".
Now that the sale of the Recruitment Software Subsidiaries has completed and as previously announced, the Board intends to propose a members' voluntary winding up of the Company as soon as practicable and a further announcement will be made about this next week.
MAR
The information contained within the announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
A copy of this announcement can be viewed at www.bondinternationalsoftware.com.
For further information, please contact:
Bond International Software plc: Tel: 01903 707070
www.bondinternationalsoftware.com
Steve Russell: Group Chief Executive
Bruce Morrison: Group Finance Director
Buchanan: Tel: 020 7466 5000
Richard Darby
Steph Watson
Houlihan Lokey Capital, Inc. (Financial adviser)
Thomas Bailey Tel: 001 404 495 7056
Cenkos Securities plc (Nomad) Tel: 020 7397 8900
Stephen Keys
Camilla Hume