QUESTER VCT PLC ANNOUNCES SALE OF ITS STAKE IN NOMAD PAYMENTS LIMITED TO
METAVANTE TECHNOLOGIES, INC.
10 January 2008, London - Quester VCT plc ("the Company") has sold its stake in
Nomad Payments Limited ("Nomad"), a provider of prepaid and debit card
processing and licensed software, to Metavante Technologies, Inc. ("Metavante")
(NYSE: MV), a leading provider of banking and payments technology. Nomad has
been acquired by Metavante for a purchase price of approximately $58 million.
The Company has been an investor in Nomad since 2000 and participated in a
number of funding rounds to a total cost of £3.6 million. Proceeds receivable
by the Company amount to £7.3 million of which £6.0 million has been received
in cash on completion and £1.3 million will be held in escrow for a further
period. The transaction, including the consideration held in escrow, has the
effect of increasing the net asset value of the Company by 3.2p per share
(unaudited). An interim management statement for the nine months to 30 November
2007 is due to be published on 16 January 2008.
SPARK Venture Management Limited
Nghi Tran, Company Secretary
020 7851 7777
020 7307 5339