ARGV Argentvive

 

TIDMARGV 
 
RNS Number : 8201N 
Argentvive PLC 
24 February 2009 
 
ArgentVive plc 
("ArgentVive" or the "Company") 
 
 
Sale of business assets of Waterside Book Services Limited 
 
 
ArgentVive announces that it has completed the sale of certain business assets 
and liabilities of its wholly owned subsidiary Waterside Book Services Limited 
("Waterside") to A-Plus Technology Limited, a company controlled by Mike Jarvie 
and Mark Baxter, the current management of Waterside. The purchase price is 
GBP279,700 to be satisfied by payment of GBP10,000 in cash at completion and the 
assumption of liabilities totaling GBP269,700. 
 
 
Waterside will be renamed Savblanc Limited, A-Plus Technology will change its 
name to Waterside Book Services Limited and will trade under the Waterside brand 
name. 
 
 
Waterside is a specialist niche book wholesaler acquired by the Company in July 
2004 for a total consideration of GBP350,000.  Waterside is a seasonal business 
focusing primarily on the passenger ferry market and required further working 
capital in the short term that ArgentVive was unable to provide.  The Board 
believes that the sale of Waterside is in the best interest of the Company and 
its shareholders. 
 
 
The Board continues to explore further restructuring alternatives that are 
necessary to secure the Company's future and further announcements will be made 
in due course. 
 
 
 
 
 
 
Enquiries: 
 
 
+--------------------------------------------+--------------------------+ 
| ArgentVive plc                             |        Tel: 01932 569912 | 
| Kevin Fleming                              |                          | 
|                                            |                          | 
+--------------------------------------------+--------------------------+ 
| Charles Stanley Securities                 |       Tel: 020 7149 6000 | 
| Nominated Adviser                          |                          | 
| Russell Cook / Carl Holmes                 |                          | 
+--------------------------------------------+--------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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