Sale of non core business

RNS Number : 0304K

SThree plc

24 July 2013

 



Sale of non core business

SThree plc ("SThree" or the "Group"), the international specialist staffing business, announces that it has sold Jobboard Enterprises Limited, the corporate entity of The IT Job Board ("ITJB"), to Dice Holdings, Inc for an initial cash consideration of £9.2m (including £1.2m of cash transferred with the business), plus a further £3.0m, dependent upon the achievement of certain financial targets ending in 2014.

ITJB is a small, non-core part of SThree's business and its assets were classified as "held for sale" on the Group's Interim Statement of Financial Position. The net proceeds from the sale will further strengthen the Group's financial position.

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Enquiries:
SThree plc	020 7268 6000
Alex Smith, Chief Financial Officer
Sarah Anderson, Deputy Company Secretary/IR Enquiries
Citigate Dewe Rogerson	020 7638 9571
Kevin Smith/Nicola Swift

Notes to editors

SThree is a leading international specialist staffing businesses, providing permanent and contract specialist staff to a diverse client base of over 7,500 clients. From its well-established position as a major player in the information and communications technology ("ICT") sector the Group has broadened the base of its operations to include businesses serving the accountancy & finance, banking, energy & engineering, oil & gas, pharmaceuticals, human resources, energy, legal and job board sectors.

Since launching its original business, Computer Futures, in 1986, the Group has adopted a multi-brand strategy, establishing new operations to address growth opportunities. SThree brands include Computer Futures, Huxley Associates, Progressive and The Real Staffing Group. The Group has circa 2,300 employees in twenty countries.

SThree plc is quoted on the Official List of the UK Listing Authority under the ticker symbol STHR and also has a US level one ADR facility, symbol SERTY 

Important notice

Certain statements in this announcement are forward looking statements. By their nature, forward looking statements involve a number of risks, uncertainties or assumptions that could cause actual results or events to differ materially from those expressed or implied by those statements. Forward looking statements regarding past trends or activities should not be taken as representation that such trends or activities will continue in the future. Certain data from the announcement is sourced from unaudited internal management information and is before any exceptional items. Accordingly, undue reliance should not be placed on forward looking statements.

 

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