TIDMBONH
RNS Number : 2830X
Bonhill Group PLC
26 August 2022
26 August 2022
Bonhill Group plc
("Bonhill", the "Company" or the "Group")
Sale of Business Solutions Group
Bonhill Group plc (AIM: BONH), a leading B2B media business
specialising in financial services providing media, events and data
& analytics, announces the sale of its Business Solutions &
Governance ("BSG") division for cash consideration of GBP723,000 to
Stubben Edge Group Limited (the "Sale").
The BSG division comprises brands, including
SmallBusiness.co.uk, GrowthBusiness.co.uk, Information-Age.com, and
DiversityQ which includes the 'Women in...' events series. In FY
2021, the BSG division reported audited revenues of approximately
GBP2.4 million and EBITDA of approximately GBP0.4 million. It
currently employs approximately 20 staff.
The consideration payable comprises an initial payment of
GBP650,000 for the core trade and assets of the division and the
balance of GBP73,000 will be payable to reimburse the Company for
any deposits paid to secure venues less any advanced revenue
received. The Company intends to invest the net proceeds of the
Sale in:
-- Live events;
-- Global ESG brand extensions and initiatives;
-- Content marketing solutions and video creation capability; and
-- Working capital purposes.
The Sale will also enable the Group to achieve approximately
GBP0.6 million in annual cost savings from streamlining central
support headcount, reduced office space and lower IT costs. The
full benefit of these will be achieved in 2023. Furthermore,
following the Sale, the Group will be more focused, less capital
intensive, less complex and will generate higher margins.
Patrick Ponsford, Bonhill's Group CEO, commented:
"We are pleased to have concluded the sale of the brands in the
Business Solutions Division. Following completion, Bonhill is a
global financial services specialist, expanding its product
offerings and building expertise in its core markets in the US, UK,
Europe and Asia."
Chris Kenning, Stubben Edge's Group CEO, commented:
"Customer tastes are changing quicker than the financial
services industry is. Bringing together the BSG capabilities to
offer insight, analytics and high-quality content with Stubben Edge
Group's Broker and IFA network creates a unique proposition to help
solve some of the problems the SME market faces."
For further enquiries please contact:
Bonhill Group plc +44 (0)7714 660 943
Patrick Ponsford, Group CEO
Shore Capital (Nominated Adviser and Broker) +44 (0)20 7408 4050
Tom Griffiths/David Coaten
About Bonhill Group plc
Bonhill Group plc is a leading, AIM-quoted, B2B media company
providing Business Information, Events and Data & Insight
propositions to the global Financial Services community. Bonhill
operates multiple digital platforms, has market leading media
brands, hosts over 100 events per annum, offers a portfolio of data
& analytics propositions and provides a range of content
marketing solutions.
Bonhill operates exclusively in the financial services space
where its brands and services are acknowledged as market leaders.
It specialises in enhancing the relationship and flow of
information between the global community of financial services
providers and the advisers who recommend their products. Bonhill
was early to recognise the growing importance of ESG in asset
allocation and fund selection and now owns the leading global
platform in this space, serving the adviser community.
Flagship brands include: InvestmentNews, ESG Clarity, Portfolio
Adviser, Fund Selector Asia, Expert Investor Europe, UK Adviser and
International Adviser.
Offices in New York, London, Singapore and Hong Kong.
For more information visit www.bonhillplc.com .
About Stubben Edge Group Limited
Stubben Edge Group specialises in creating innovative products
and technology for the financial services and insurance
industries.
With a private client heritage and backed by Lloyd's Names, the
group has expanded to building systems, technologies, and
cutting-edge analytics. The result? A new distribution portal
that's the only single, networked system for IFAs, brokers and ARs
looking to really grow their businesses.
For more information visit www.stubbenedge.com .
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