Information  X 
Enter a valid email address

Gresham Computing (GHT)

  Print      Mail a friend

Tuesday 16 April, 2002

Gresham Computing

SIM Group Disposal Update

Gresham Computing PLC
16 April 2002

                  GRESHAM COMPUTING PLC
               ('Gresham' or the 'Group')
                SIM Group Disposal Update

Gresham  Computing  plc, provider of enterprise  software
and  solutions,  today  announces it  has  completed  the
disposal of its remaining shares in SIM Group Limited  to
SQS Software Quality Systems AG (SQS).

The  proceeds  for the second tranche of  shares  are  as

a)   £6,220,000 received in cash;
b)   £692,000 in convertible bonds in SQS Software
     Quality Systems AG.  The bonds, which are convertible at
     the option of Gresham into shares of SQS are interest
     bearing, denominated in Euros and may be redeemed after 1
     August 2003;
c)   In addition further proceeds of ten per cent of the
     turnover achieved by SIM Group in the year ending 31
     October 2002 will be payable in cash by 30 December 2002.
Andrew Walton-Green, Chief Executive, said:

'I  am  very pleased to announce the completion  of  this
deal  to sell SIM.  Gresham bought SIM in April 1999  for
£6  million  and  has now sold it for in  excess  of  £13
million in two tranches.

'The cash will be used to invest in our core technologies
with   a   view   to  providing  our  shareholders   with
significant long term growth and profitability.'

The  Group also announces Preliminary Results for the  14
months ended 31 December 2001 today.

For further information, please contact:

Gresham Computing plc                        01489 555522
Andrew Walton-Green, Chief Executive
Dean Osman, Finance Director

Weber Shandwick Square Mile                 0207 950 2800
Tim Jackaman
Sally Lewis

                      This information is provided by RNS
            The company news service from the London Stock Exchange