IDOX PLC Disposal of Digital division (2674G)

TIDMIDOX

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 GBP1.00.

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 GBP3.2 million. As at 30 September 2018 the Digital division has gross assets of GBP0.9 million and a net liabilities position of GBP0.02 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.

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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

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November 05, 2018 02:00 ET (07:00 GMT)

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