Disposal

Anite Group PLC 19 December 2003 19 December 2003 Anite Group plc Disposal Anite Group plc ('Anite' or 'the Group'), the international IT solutions and services company, today announces that one of its subsidiary companies has agreed to sell Anite Benelux BV ('Anite Benelux'), its Dutch based IT consultancy, to a local software company for a total consideration of £1.05m (€1.5m), of which £840k (€1.2m) is payable in cash on completion and £210k (€300k) in twelve months' time. Prior to completion, Anite Benelux will pay a dividend of £1.2m (€1.7m) to its immediate parent company. The consideration proceeds will be used to reduce the Group's indebtedness. This reflects Anite's intention to dispose of certain small peripheral businesses. Anite Benelux's recent performance, together with a highly competitive market, has resulted in the risk of considerable margin erosion on future trading. Anite Benelux achieved operating profits of £0.1m (2002: £0.2m) on turnover of £5.1m (2002: £5.2m) in the six months ended 31 October 2003, which were included in Anite's interim results for that period, announced on 12 December 2003. For the year ended 30 April 2003, it achieved operating profits of £0.4m on turnover of £10.2m. Net assets on disposal, after payment of a pre-completion dividend, will be approx £1.5m (€2.1m). These numbers will be shown as a discontinued activity in Anite's future results. Anite Benelux employs 164 staff out of a total of 725 in Anite's International division. Completion is expected to take effect on 31 December 2003. Commenting on the disposal, Steve Rowley, Anite's Chief Executive, stated: 'We are pleased to have agreed this disposal which is in line with our stated strategy of selling small peripheral businesses.' - Ends - For further information, please contact: Anite Group plc www.anite.com Steve Rowley, Chief Executive 01753 804495 Christopher Humphrey, Group Finance Director Weber Shandwick Square Mile Sara Musgrave/Helen Thomas 020 7076 0700 This information is provided by RNS The company news service from the London Stock Exchange LE
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