Eckoh disposes of holding in Telecom Express Ltd

RNS Number : 4673Z

Eckoh PLC

16 March 2012

 



For Immediate Release                                                                                               16 March 2012

Eckoh plc

("Eckoh" or the "Company")

Eckoh disposes of holding in Telecom Express Limited (the "Buyer")

Eckoh plc (AIM: ECK), the UK's leading provider of customer service solutions using speech recognition, announces that it has agreed to sell its holding in Telecom Express Limited.

On 28 May 2010, Eckoh announced that it was merging its IVR division with Telecom Express Limited and taking a 27.5% share of the enlarged business. Eckoh has reached agreement to sell the holding to Telecom Express Limited for £100,000. Payment is to be made by three instalments, with the first instalment of £33,334 to be paid by the Buyer in cash on 1 June 2012, the second instalment of £33,333 to be paid by the Buyer in cash on 3 August 2012 and the third instalment of £33,333 to be paid by the Buyer in cash on 1 February 2013.

The holding was fully impaired in the 2010/11 financial year.

Ends

Enquiries:

Eckoh plc

Nik Philpot, Chief Executive Officer

Adam Moloney, Group Finance Director

www.eckoh.com                                                                        Tel: [phone]

Singer Capital Markets

Shaun Dobson, Matt Thomas                                                      Tel: [phone]

Buchanan          

Jeremy Garcia, Nicola Cronk, Gabriella Clinkard                           Tel: [phone]

Notes to Editors:

About Eckoh plc

Eckoh plc (AIM: ECK) is the UK's leading provider of customer service solutions using speech recognition, and complementary services on the web and mobile.

Eckoh's solutions enable transactions, enquiries or payments to be processed without the caller needing to talk to a contact centre. This significantly reduces its clients' costs, whilst freeing up contact centre agents to deal with more complex enquiries. Eckoh is the largest provider of such hosted services in the UK.

Eckoh's secure and resilient infrastructure has the scalability to handle over 650,000 calls an hour and up to 8,000 calls simultaneously, which means calls can always be answered no matter how unpredictable the circumstances.

For more information, visit: www.eckoh.com

 

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