Parkmead Regulatory News (PMG)

5 Apr 2006 12:00

Interregnum PLC05 April 2006 5 April 2006 For immediate release Interregnum plc Proposed Sale Of Portfolio Companies Not To Proceed On 2 March 2006, Interregnum plc (the "Company") announced that it hadconditionally agreed to sell a portfolio of its assets ('the portfoliocompanies') for £5million in cash. The agreement was conditional upon, amongst other things, concluding detailedarrangements in line with the original offer. It has unfortunately not beenpossible to agree these detailed terms on a mutually acceptable basis andtherefore it has been concluded that the sale cannot proceed as originallyintended. It is, however, the intention of the Board of the Company to realise value fromthe portfolio companies, either collectively or as individual holdings. Anysignificant disposals will be subject to shareholder approval. Commenting, Interregnum plc Chief Executive Niall Doran said: "The board is committed to restructuring Interregnum plc to improve returns forits shareholders. The realisation of value from the portfolio is a componentpart of this process and will proceed as soon as suitable purchasers are found." Enquiries Niall DoranChief ExecutiveInterregnum plc 020 7494 3080 Madano PartnershipPR advisors to InterregnumMatthew Moth/Toby Wilkinson 0207 593 4000 Notes to Editors The key Portfolio Companies are: Adaptive IncAudio Visual Machines LtdFuture RouteOilcatsMetapraxis LtdRed-M Group LtdRespond Group LtdYospace Technologies Ltd Further information on the portfolio companies is set out below: Respond Group Ltd Respond is a software company which helps companies and government bodiesdeliver customer service excellence and regulatory compliance, through theimplementation of customer complaint handling and feedback. Respond is nowrecognised as the leader in its field, with more than 40,000 users of itssoftware in over 800 organisations. Audio Visual Machines Ltd AVM, established in 1990, is an audio visual solutions provider. The companydesigns, supplies, programs and supports complex audio visual systems rangingfrom boardroom presentation systems to IP-based video conferencing networks.Acquired VMC from Unique group in Oct 05. Yospace Technologies Ltd Yospace provides multimedia messaging, personal storage and handset simulationsoftware and services to the mobile communications industry. Yospace clientsinclude over 1,500 mobile development companies, internet portals and mobileoperators such as Vodafone, O2, Orange and 3. Red-M Group Ltd Red-M Group (formed from the merger of CDS and Red-M Communications) is asoftware products and services provider focusing on wireless, with uniqueintellectual property relevant to wireless infrastructure and security. Adaptive Inc Adaptive is a web-based enterprise architecture knowledge repository solutionprovider. Their products and services enable organisations to maximise the valueof their enterprise architecture initiatives, through exceptionally capable andfeature-rich support for the full scope of Enterprise Architecture planning andimplementation. By providing a "big picture" view - and with their uniquecapability to leverage disparate data sources into a holistic, secure enterprisearchitecture framework - Adaptive provides management, in both business and IT,with the ability to plan, organise, lead and monitor change in a much morerigorous and effective manner. Future Route Future Route commercialises machine learning technologies for automatic rulesgeneration, pattern detection & accurate data modelling. Future Route's productsfocus on fraud detection and automatic rules generation for fraud managementsystems. Future Route's Machine Learning Predictive technology is called iHexTM.The iHexTM multi-component architecture intelligently detects and learns aboutpatterns in aggregated and relational data sources. iHexTM machine learningsystems can be embedded into existing software applications and provided viahosted web application services. Metapraxis Ltd Metapraxis is an international management consultancy and software groupspecialising in Business Performance Visualisation. Their Consulting ServicesDivision engages in consulting projects with multinational client corporationswith annual sales revenues normally in excess of $500m. Oilcats Oilcats is a company providing content management solutions (cleansing,classification, enrichment for structured product data) to the Energy sectorglobally. Clients include leading Oil companies. This information is provided by RNS The company news service from the London Stock Exchange