Bond International Software PLC Completion of sale and resignation of Director (4051O)

TIDMBDI

RNS Number : 4051O

Bond International Software PLC

04 November 2016

Not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

 
 
   For Immediate Release     4 November 2016 
 

Bond International Software plc

(the "Company")

Completion of sale of Recruitment Software Subsidiaries

and

Resignation of Director

Further to the announcements on 22 October 2016 and 31 October 2016, Bond International Software plc is pleased to announce the completion of the sale of its Recruitment Software Subsidiaries, comprising Bond International Software (UK) Limited ("Bond UK"), Bond International Holdings Inc, Bond International Software Pty Limited, Bond International Software China Ltd, Bond International Software (Singapore) Pte. Ltd and Bond International Software KK., to Hockliffe Limited and Bond US Inc. and receipt of the cash consideration of GBP24.1m. The Company is also pleased to announce the completion of the sale of its real estate asset, comprising the Company's registered office and Bond UK's office, for a consideration of GBP1.8m.

Following the disposal of the Recruitment Software Subsidiaries, Tim Richards has resigned from the Board of the Company with immediate effect to continue his career with the Recruitment Software Subsidiaries.

Chairman Martin Baldwin commented: "We would like to thank Tim for his very considerable contribution to the Company over the last 19 years and wish him well for the future".

Now that the sale of the Recruitment Software Subsidiaries has completed and as previously announced, the Board intends to propose a members' voluntary winding up of the Company as soon as practicable and a further announcement will be made about this next week.

MAR

The information contained within the announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

A copy of this announcement can be viewed at www.bondinternationalsoftware.com.

For further information, please contact:

Bond International Software plc: Tel: [phone]

www.bondinternationalsoftware.com

Steve Russell: Group Chief Executive

Bruce Morrison: Group Finance Director

Buchanan: Tel: [phone]

Richard Darby

Steph Watson

Houlihan Lokey Capital, Inc. (Financial adviser)

Thomas Bailey

Tel: [phone]

Cenkos Securities plc (Nomad) Tel: [phone]

Stephen Keys

Camilla Hume

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCXZLFBQFFEFBF

(END) Dow Jones Newswires

November 04, 2016 10:00 ET (14:00 GMT)