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Disposal

12 Oct 2010 10:21

RNS Number : 2388U
Acal PLC
12 October 2010
 



For Release

12 October 2010

 

Acal plc

("Acal")

 

Acal announces the disposal of its ATM Parts business

 

Acal plc (LSE: ACL), a specialist provider of technology products and services across Europe and South Africa, today announces that it has completed the sale of its subsidiary, ATM Parts Company Limited ("ATM Parts"), to Cennox plc, a UK based ATM services and technology company, for a consideration of £0.7 million on a debt free, cash free basis.

 

ATM Parts, which is a leading purveyor of ATM parts, parts support solutions and associated technology is a non core business within Acal Supply Chain division. The disposal will allow Acal Supply Chain to focus on its core business of supplying IT spares and outsource solutions for technology service companies.

 

Following completion, there will be a small one off adjusting settlement for the movement in net assets since 31 March 2010. At that date, ATM Parts had gross assets of £1.5 million (excluding cash and inter-company debtors). For the six months ended 30 September 2010, ATM Parts incurred unaudited pre tax losses of £0.2 million on revenues of £1.8 million (pre tax losses of £0.5 million on revenues of £3.3 million for the year ended 31 March 2010).

 

The sale proceeds will add to Acal's existing cash resources.

 

Nick Jefferies, Group Chief Executive said: "This is another important step for Acal as we continue to streamline the Group and focus our operational activities on our core businesses, whilst also increasing our cash resources."

 

For further information, please contact:

Acal plc

Nick Jefferies ~ Group Chief Executive 01483 544500

Simon Gibbins ~ Group Finance Director

 

Cubitt Consulting

Chris Lane / Sam Boston 020 7367 5100

 

 

Notes to Editors:

 

About Acal plc

The Acal Group is a leading technology-based specialist distributor in Europe providing sales, marketing and other services through three divisions: Electronics, Supply Chain and Medical. The Electronics Division distributes electronic and photonic products to industrial manufacturing and design companies. The Supply Chain Division supplies new and refurbished IT, EPOS and ATM spare parts to service providers while the Medical Division supplies advanced medical equipment to public and private healthcare providers. Acal has operating companies in the UK, Netherlands, Belgium, Germany, France, Italy, South Africa, Spain and the Nordic region.

 

About Cennox plc

 

Cennox, a subsidiary of Mainet Limited, are a UK based ATM services and technology business. The ATM division supplies a range of sector specific services to banks and ATM service business including parts supply, project and field services, and signage. The technology division have developed a range of products that enable businesses to communicate with customers and employees through state of the art mobile technologies. Through its B2B text based solutions division, Cennox is able to provide SMS disruption support services to airlines, transport companies, local government and schools. Cennox also provide wireless communications business continuity for office locations in the event of fixed line communication failure.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISGCBDGRBBBGGD
Date   Source Headline
28th Sep 20075:19 pmRNSDoc re. disposal posted
27th Sep 20077:04 amRNSDISPOSAL OF IT SOLUTIONS
11th Sep 20071:33 pmRNSHolding(s) in Company
6th Aug 20074:28 pmRNSHolding(s) in Company
19th Jul 20073:43 pmRNSResult of AGM
19th Jul 20077:00 amRNSInterim Management Statement
5th Jul 200710:15 amRNSBlocklisting Interim Review
25th Jun 20075:18 pmRNSAnnual Information Update
21st Jun 20073:03 pmRNSDoc re. Report and Accounts
7th Jun 20073:39 pmRNSDirector/PDMR Shareholding
7th Jun 20073:34 pmRNSDirector/PDMR Shareholding
7th Jun 20073:32 pmRNSDirector/PDMR Shareholding
7th Jun 20073:31 pmRNSDirector/PDMR Shareholding
7th Jun 20073:22 pmRNSDirector/PDMR Shareholding
4th Jun 20077:01 amRNSFinal Results
14th May 20077:01 amRNSNotice of Results
3rd Apr 20075:21 pmRNSSecond Price Monitoring Extn
3rd Apr 20075:20 pmRNSPrice Monitoring Extension
26th Mar 20077:01 amRNSTrading Statement
22nd Mar 20073:46 pmRNSHolding(s) in Company
19th Mar 200712:08 pmRNSHolding(s) in Company
26th Feb 20073:41 pmRNSHolding(s) in Company
2nd Feb 200712:40 pmRNSHolding(s) in Company
1st Feb 200710:33 amRNSHolding(s) in Company
30th Jan 20076:28 pmRNSDirector/PDMR Shareholding
25th Jan 20074:56 pmRNSHolding(s) in Company
24th Jan 200710:46 amRNSHolding(s) in Company
8th Jan 200710:22 amRNSBlocklisting Interim Review
18th Dec 20064:33 pmRNSTotal Voting Rights
6th Dec 200610:19 amRNSHolding(s) in Company
4th Dec 20067:01 amRNSInterim Results
8th Nov 20067:00 amRNSNotice of Results
26th Oct 20063:23 pmRNSHolding(s) in Company
24th Oct 20063:08 pmRNSHolding(s) in Company
27th Sep 20067:00 amRNSTrading Statement
7th Sep 20062:44 pmRNSHolding(s) in Company
7th Sep 20062:25 pmRNSHolding(s) in Company
7th Sep 20062:22 pmRNSHolding(s) in Company
10th Aug 20063:54 pmRNSBlocklisting Interim Review
8th Aug 200612:07 pmRNSResult of AGM
7th Aug 20065:57 pmRNSHolding(s) in Company
12th Jul 200612:23 pmRNSAnnual Information Update
10th Jul 20062:41 pmRNSAnnual Report and Accounts
10th Jul 20069:06 amRNSDisposal
27th Jun 20067:00 amRNSDirector/PDMR Shareholding
26th Jun 20066:18 pmRNSDirector/PDMR Shareholding
26th Jun 20066:12 pmRNSDirector/PDMR Shareholding
26th Jun 20066:12 pmRNSDirector/PDMR Shareholding
26th Jun 20066:12 pmRNSDirector/PDMR Shareholding
19th Jun 20067:01 amRNSFinal Results

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