Macromac PLC Disposal of Search Engine Optimisation business (6942W)
November 11 2014 - 3:38AM
UK Regulatory
TIDMMACC
RNS Number : 6942W
Macromac PLC
11 November 2014
Replacement: The announcement of 4 November 2014 contained an
error in that the name of the purchaser of the Company's Search
Engine Optimisation (SEO) business was stated as being "Lotus-T
Online Sdn Bhd". The correct name is "Locus-T Online Sdn Bhd" and
this has been amended in this version. The full amended text of the
announcement is set out below.
Macromac plc
("Macromac", "the Company" or "the Group")
Disposal of Search Engine Optimisation (SEO) business
The Board of Macromac (AIM: MACC) announces that Macromac
Webtech Sdn Bhd ("MWSB"), one of the Company's wholly owned
Malaysian operating subsidiaries, entered into an agreement on 3
November 2014 to dispose of MWSB's SEO and web development services
business for a cash consideration of RM60,000 to Locus-T Online Sdn
Bhd (the "Disposal"). Locus-T Online Sdn Bhd is a Malaysian-based
company involved in the provision of web development, web hosting
and related services.
The Disposal has been undertaken to further streamline the
business of the Group to concentrate on its higher profit margin
generating businesses.
Under the terms of the agreement, RM15,000 has been paid to
Macromac upon the signing of the agreement while the remainder will
be paid in equal monthly instalments over the period of 3 months
from the signing of the agreement with the final instalment due on
31 January 2015.
Net proceeds expected from the disposal of this business are
RM60,000, while the gain on the Disposal is expected to be
RM80,000, assuming the full realisation of approximately RM105,000
of deferred income.
Taking into consideration the current operating conditions and
the prospects of the business, the Board is of the view that the
total cash consideration to be received is fair and reasonable and
the Disposal to be in the best interests of the Company.
The SEO business currently has 7 employees whom will be
re-assigned within the Group.
For further information please visit www.macromacgroup.com or
contact:
Macromac PLC +603 7785 9488
Michael Lew, Executive President
Andrew Khoo, Chief Executive Officer
KC Chong, Finance Director
Allenby Capital Limited (Nominated Adviser and Broker) +44 (0)20
3328 5656
Nick Athanas
James Reeve
Leander (Financial PR) +44 (0)7795 168 157
Christian Taylor-Wilkinson
About Macromac
Macromac is a group of companies headquartered in Malaysia
comprising two divisions. The Company aims to deliver mobile
content and web-based marketing solutions to its customers across
South East Asia. Through its proprietary MMP, the Company provides
Premium and Bulk Mobile Messaging solutions for corporate and
advertising campaigns, allowing its clients to better reach their
customers by delivering targeted mobile messaging. The Company also
develops project-based customised software solutions for its SME
clients.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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