Disposal of Anite Transport

Anite Group PLC 06 December 2004 For immediate release Monday, 6 December 2004 Anite Group plc Disposal of Anite Transport Anite Group plc ('Anite' or 'the Group'), the worldwide IT solutions and services company, today announces that it has completed the sale of the trade and assets of Anite Transport, its solutions, services and consultancy to the passenger transport industry, to Trapeze Inc. for a total consideration £0.9m, payable in cash on completion. The disposal is in line with Anite's stated strategy following its recent strategic review of disposing of non-core, peripheral businesses to better focus on its three core vertical markets of public sector, telecoms and travel. Anite Transport was an immaterial part of Anite Public Sector having been formed as a result of the merger of some existing businesses and that of Transform Systems Limited, which was acquired in 2000 for £0.3m. Its offering is peripheral to the division's core local and central government solutions. The consideration proceeds will be used to benefit the Group's cash position and provide greater financial flexibility. Anite Transport made a small operating loss before goodwill and exceptional items in the Group's year ended 30 April 2004 on turnover of £1.7m. The value of the net assets being disposed of is less than £0.1m. The business was marginally profitable in the half year ended 31 October 2004, and will be reported as a discontinued activity in the Group's forthcoming interim results due to be announced on 7 December 2004. There will be a small profit on disposal. Anite Transport's employees are being transferred under TUPE to Trapeze. The business employed 17 staff out of a total of 794 in Public Sector as at 30 April 2004. Commenting on the disposal, Steve Rowley, Anite's Chief Executive, stated: 'We are pleased to have agreed this disposal, following the recent sale of Anite Space and Anite Calculus, in line with our stated strategy of selling non-core businesses thus enabling us to better focus on our core markets.' - Ends - For further information, please contact: www.anite.com Anite Group plc 01753 804000 Steve Rowley, Chief Executive Christopher Humphrey, Group Finance Director Smithfield 020 7360 4900 Reg Hoare/Sara Musgrave Print resolution images are available for the media to view and download from www.vismedia.co.uk This information is provided by RNS The company news service from the London Stock Exchange
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