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Pin to quick picksIdox Group Regulatory News (IDOX)

Share Price Information for Idox Group (IDOX)

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Disposal of Digital division

5 Nov 2018 07:00

RNS Number : 2674G
IDOX PLC
05 November 2018
 

5 November 2018

Idox plc

('Idox' or the 'Group' or the 'Company')

Disposal of Digital division

Idox plc (AIM: IDOX), a leading supplier of specialist information management solutions and services, announces the sale of its digital division ("Digital") to Fat Media Limited, a digital marketing solution provider, for a nominal cash consideration of £1.00.

The Digital division is focused on providing digital consultancy services to private sector clients and for the year ended 31 October 2017 recorded a loss before tax of £3.2 million. As at 30 September 2018 the Digital division has gross assets of £0.9 million and a net liabilities position of £0.02 million (unaudited).

This disposal allows for additional focus on the Group's core operations and further improvements in its operating model.  

The Group expects to issue a trading update for its financial year ended 31 October during November.

-Ends-

Enquiries:

Idox plc

+44 (0) 870 333 7101

David Meaden, Chief Executive

 

Rob Grubb, Chief Financial Officer

 

 

 

N+1 Singer (NOMAD and Broker)

+44 (0) 20 7496 3000

Shaun Dobson

 

Jen Boorer

 

 

 

MHP (Financial PR)

+44 (0) 20 3128 8100

Reg Hoare

 

 

Charlie Barker

 

 

    

 

About Idox plc

For more information see www.idoxplc.com @Idoxgroup 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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