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Disposal

11 May 2012 07:00

RNS Number : 1097D
RM PLC
11 May 2012
 



 

 

11 May 2012

 

 

RM plc

 

SALE OF ISIS CONCEPTS LTD

 

 

RM plc ("the Group") issued a Trading Update and Strategic Review on 29 September 2011 stating that, after reviewing the Group's UK operations, the Board had decided to dispose of a number of business operations, including ISIS Concepts Limited ("ISIS"). Following an extensive marketing process through third party advisors, the sale of ISIS has now been completed on the terms set out below.

 

The sale of 100% of the issued share capital of ISIS to ISIS Concepts Holdings Ltd completed on 10 May 2012 for a purchase price of £205,000. ISIS Concepts Holdings Ltd is a new company formed by Nick Topliss. Nick Topliss owned ISIS prior to it being purchased by RM in 2009 and has acted as Managing Director of ISIS during the period of RM's ownership. Rob Sirs, former Managing Director of RM plc, is expected to invest in ISIS Concepts Holdings Ltd in the near future.

 

In the financial year to date, ISIS has been loss-making. RM has agreed to provide a short-term working capital loan facility of up to £850,000, secured on freehold property and other assets valued in excess of that figure.

 

This disposal completes the disposal programme announced in the Strategic Review.

 

 

 

 

 

Contacts:

 

RM plc

Martyn Ratcliffe, Executive Chairman 08450 700300

Iain McIntosh, Chief Financial Officer

 

FTI Consulting 020 7831 3113

James Melville-Ross

Sophie McMillan

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISLLFVSERIILIF
Date   Source Headline
6th Dec 200611:29 amRNSDirector/PDMR Shareholding
6th Dec 200611:28 amRNSDirector/PDMR Shareholding
29th Nov 200611:34 amRNSDirector/PDMR Shareholding
27th Nov 20067:02 amRNSPartnership Agreement
27th Nov 20067:01 amRNSFinal Results
21st Nov 20069:09 amRNSHolding(s) in Company
21st Nov 20067:00 amRNSRe Contract
7th Nov 20067:02 amRNSPreferred Bidder for Contract
30th Oct 200611:04 amRNSNotice of Results
21st Sep 20067:01 amRNSTrading Statement
18th Sep 20067:00 amRNSRe Contract
7th Sep 20067:00 amRNSRe Contract
9th Aug 20067:00 amRNSAcquisition
10th Jul 20067:30 amRNSTransaction in Own Shares
5th Jul 20067:30 amRNSTransaction in Own Shares
3rd Jul 20062:41 pmRNSBlocklisting Interim Review
30th Jun 20061:41 pmRNSDirector/PDMR Shareholding
30th Jun 20067:01 amRNSRM Site Visits
29th Jun 20067:30 amRNSTransaction in Own Shares
27th Jun 20069:46 amRNSDirector/PDMR Shareholding
20th Jun 20068:33 amRNSDirector/PDMR Shareholding
19th Jun 200611:29 amRNSDirector/PDMR Shareholding
9th Jun 20067:00 amRNSAcquisition
8th Jun 20062:13 pmRNSDoc re. Interim Report
19th May 20062:29 pmRNSDirector/PDMR Shareholding
17th May 20064:01 pmRNSDirector/PDMR Shareholding
15th May 20067:01 amRNSInterim Results
24th Apr 20063:19 pmRNSNotice of Results
18th Apr 200612:34 pmRNSAnnual Information Update
13th Apr 20061:35 pmRNSDirector/PDMR Shareholding
13th Apr 20061:33 pmRNSDirector/PDMR Shareholding
28th Mar 20067:00 amRNSTrading Statement
23rd Mar 20063:41 pmRNSHolding(s) in Company
17th Mar 20062:48 pmRNSDirector/PDMR Shareholding
23rd Feb 20061:52 pmRNSDirector/PDMR Shareholding
15th Feb 20068:56 amRNSC2K programme update
8th Feb 20067:00 amRNSContract
31st Jan 200610:33 amRNSAdditional Listing
23rd Jan 20064:24 pmRNSDoc re. AGM Resolutions
19th Jan 200612:42 pmRNSDirector/PDMR Shareholding
11th Jan 20067:00 amRNSBETT 2006
4th Jan 20061:28 pmRNSBlocklisting Interim Review
4th Jan 200611:48 amRNSDoc re. Annual Report 2005
4th Jan 20067:00 amRNSContract Award
20th Dec 20054:20 pmRNSDirector/PDMR Shareholding
20th Dec 20054:19 pmRNSDirector/PDMR Shareholding
16th Dec 20054:30 pmRNSDirector/PDMR Shareholding
16th Dec 20054:27 pmRNSDirector/PDMR Shareholding
16th Dec 20054:26 pmRNSDirector/PDMR Shareholding
15th Dec 20053:22 pmRNSHolding(s) in Company

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