Disposal of non-core business
April 08 2003 - 9:48AM
UK Regulatory
RNS Number:7774J
Retail Decisions PLC
08 April 2003
Retail Decisions plc
Disposal of non-core business
Retail Decisions, the international supplier of payment card fraud prevention
and value-added transaction services, has sold the business and assets of its
independently managed subsidiary, Human Resources Technology Ltd (HRTL), for an
expected total consideration of #866,000 (minimum #754,000) to the business'
management. The business of HRTL is the development of clinical information and
human resources system software, focused on the healthcare sector. Cash
received from the transaction will be retained to finance working capital
requirements.
The total consideration is made up of a royalty license agreement and a holding
in the HRTL business. Retail Decisions will receive payments totalling #250,000
over four years in a royalty license agreement. Retail Decisions will also
retain a 40% equity holding in the new business with an option to sell its
remaining holding in six years for a minimum consideration of #504,000 with a
maximum consideration of #2,032,800.
In the year to 31 December 2002, the HRTL business turnover was #736,109 and it
recorded a profit of #7,552. At the year-end it had net assets of #12,431.
Carl Clump, Retail Decisions Chief Executive said:
"The HRTL business, which has good prospects in the healthcare sector, is an
independent component of a risk management database business acquired in 2000.
As such, it was not part of our core business which is focused on card payments
and fraud prevention services."
8 April 2003
Enquiries
Retail Decisions plc Tel: 01483 728700
Carl Clump, Chief Executive
William Good, Finance Director
College Hill Tel: 020 7457 2020
Adrian Duffield adrian.duffield@collegehill.com
Clare Warren clare.warren@collegehill.com
This information is provided by RNS
The company news service from the London Stock Exchange
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