Disposal
January 10 2008 - 10:02AM
UK Regulatory
QUESTER VCT 4 PLC ANNOUNCES SALE OF ITS STAKE IN NOMAD PAYMENTS LIMITED TO
METAVANTE TECHNOLOGIES, INC.
10 January 2008, London - Quester VCT 4 plc ("the Company") has sold its stake
in Nomad Payments Limited ("Nomad"), a provider of prepaid and debit card
processing and licensed software, to Metavante Technologies, Inc. ("Metavante")
(NYSE: MV), a leading provider of banking and payments technology. Nomad has
been acquired by Metavante for a purchase price of approximately $58 million.
The Company has been an investor in Nomad since 2001 and participated in a
number of funding rounds to a total cost of �1.6 million. Proceeds receivable
by the Company amount to �3.0 million of which �2.5 million has been received
in cash on completion and �0.5 million will be held in escrow for a further
period. The transaction, including the consideration held in escrow, has the
effect of increasing the net asset value of the Company by 3.1p per share
(unaudited).
Enquiries:
SPARK Venture Management Limited
Nghi Tran, Company Secretary
020 7851 7777
Capital MS&L
Annabel O'Connor
020 7307 5339
END
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