Sale of Non-Core Businesses

4 Nov 2008 07:00



Interactive Prospect Targeting Holdings Plc

("IPTH" )

Sale of Integra Insight and of Real World Customer Experience Limited ("RWCEL")

IPTH announces that it has sold two of its remaining non-core businesses, both of which engage in market research in the UK.

On 31 October 2008, IPTH sold the Integra Insight business to Intelligenzia Limited ("IL") for  consideration of £21,043 (which was paid wholly in cash). IL has acquired all of the assets relating to the Integra Insight business and assumed certain liabilities of the business (including £78,028 of specified creditors). 

On 3 November 2008, IPTH sold all of its shares in RWCEL (including its subsidiaries Tpoll Market Intelligence Limited and The Simulating World Research Company Limited) for the sum of £215,618 (payable wholly in cash) to Mark Ursell and Michael Donovan, two of the current managers of RWCEL. The purchase price is payable in four monthly instalments commencing in January next year.  The net value of the net trading assets of the RWCEL subgroup was £257,000 and, based on unaudited management accounts, the pre-tax trading losses attributable to those assets for the eight months to 31 August 2008 was £94,000.

The sales are part of the ongoing strategic review commenced earlier this year. These transactions will reduce further IPTH's activities in the United Kingdom. The proceeds of the sales will be used for the ongoing requirements of the Group.

-Ends-

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