5 November 2018
Idox plc
('Idox' or the 'Group' or the 'Company')
Disposal of Digital division
Idox plc (AIM: IDOX), a leading supplier of specialist information management solutions and services, announces the sale of its digital division ("Digital") to Fat Media Limited, a digital marketing solution provider, for a nominal cash consideration of £1.00.
The Digital division is focused on providing digital consultancy services to private sector clients and for the year ended 31 October 2017 recorded a loss before tax of £3.2 million. As at 30 September 2018 the Digital division has gross assets of £0.9 million and a net liabilities position of £0.02 million (unaudited).
This disposal allows for additional focus on the Group's core operations and further improvements in its operating model.
The Group expects to issue a trading update for its financial year ended 31 October during November.
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Enquiries:
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Idox plc |
+44 (0) 870 333 7101 |
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David Meaden, Chief Executive |
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Rob Grubb, Chief Financial Officer |
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N+1 Singer (NOMAD and Broker) |
+44 (0) 20 7496 3000 |
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Shaun Dobson |
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Jen Boorer |
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MHP (Financial PR) |
+44 (0) 20 3128 8100 |
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Reg Hoare |
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Charlie Barker |
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About Idox plc
For more information see www.idoxplc.com @Idoxgroup