Wilmington PLC Sale of ICP Credit Reporting Business (0913V)
July 19 2018 - 2:00AM
UK Regulatory
TIDMWIL
RNS Number : 0913V
Wilmington PLC
19 July 2018
19 July 2018
Wilmington plc
("Wilmington" or the "Group")
Sale of ICP Credit Reporting Business
Wilmington plc (LSE: WIL), the provider of information,
education and networking services in Risk & Compliance,
Professional and Healthcare knowledge areas, is pleased to announce
the sale of ICP, its specialist leading credit reporting company,
to its current management team. The transaction price of GBP3.0m
will be paid in instalments over the next five years.
Since 1983 ICP has provided its global client base with accurate
and high-quality company research in the Middle East, Africa, Asia,
South America and offshore jurisdictions. Located in London and
Dubai, ICP's success in producing detailed company reports is based
around a team of highly expert editors and researchers, some of
whom have been with the business for more than 25 years.
This transaction allows Wilmington to focus its resources on its
core client communities and secure a good return for shareholders
from historic investments. Meanwhile, under transitional service
arrangements ICP will continue to benefit from its existing
technology infrastructure for up to twelve months to provide
ongoing client confidence. Furthermore, the transaction structure
allows ICP to invest to bring a new range of risk information
products to some of world's most challenging company reporting
economies.
Pedro Ros, Group CEO of Wilmington commented:
"I am pleased that we have been able to agree this innovative
solution with ICP management that allows them to invest in the
business whilst recognising value for Wilmington's shareholders.
ICP provides a trusted, high quality service and I wish Jennifer
and her team continued success in the future."
Jennifer Guy, Managing Director of ICP commented:
"This is a unique opportunity for ICP, its clients and
employees. We continue to benefit from the special relationship
with Wilmington whilst being excited about a new development era
for our business. This transaction is positive for everyone
connected with the business, and we are excited to lead ICP into a
new phase of powerful information solutions for our clients."
-End-
For further information, please contact:
Wilmington plc
Pedro Ros, Chief Executive Officer
Richard Amos, Chief Financial Officer 020 7422 6800
FTI Consulting
Charles Palmer / Dwight Burden / Emma
Hall / Leah Dudley 020 3727 1000
Notes to Editors
Wilmington plc is the recognised knowledge leader and partner of
choice for information, education and networking in Risk &
Compliance, Professional and Healthcare areas. Capitalised at over
GBP160 million, Wilmington floated on the London Stock Exchange in
1995.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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