5 Mar 2012 10:59
AIM: STK 5 March 2012 SureTrack Monitoring plc ("SureTrack", the "Company" or the "Group") Disposal of Sure-Track Europe Limited
The Company announces that at the General Meeting held this morning all resolutions were duly passed and that the disposal of Sure-Track Europe Limited has now been completed
The Company will , after the publication of its year end results , undertake the share reorganisation to enable it to acquire the shares from the purchasers and a further announcement relating to this will be made in due course.
In addition, following completion of the disposal Will Hirons has stepped down from the Board but remains as a consultant to the Company for an interim period to effect an orderly handover.
Simon Barrell, Non-Executive Director and Interim Chairman of SureTrack Monitoring plc, commented:
"Following the disposal of Sure-Track Europe the Company can now focus on its developing IBP business. IBP continues to supply its blue chip retail customer base with security solutions and is also in the process of completing the installation of the European Post Office order, received from a major European security and communications company. We are hopeful of fulfilling the second phase of the European Post office roll out and are also looking forward to the results of the trial with a major retailer which aredue in the coming months.
We remain focused on driving sales in IBP in order to build this business and to generate shareholder value"
For further information contact:
SureTrack Monitoring plc Simon Barrell Tel: 07850 934204 Merchant Securities Limited (Nominated Adviser and Broker) Simon Clements Tel: 020 7628 2200
Catherine Miles
XLON