Disposal of Digital division

RNS Number : 2674G

IDOX PLC

05 November 2018

 

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:

Idox plc	[phone]
David Meaden, Chief Executive
Rob Grubb, Chief Financial Officer
N+1 Singer (NOMAD and Broker)	[phone]
Shaun Dobson
Jen Boorer
MHP (Financial PR)		[phone]
Reg Hoare
Charlie Barker

About Idox plc

For more information see www.idoxplc.com @Idoxgroup 

 

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