Progility PLC CareShield option waived by mutual consent (3863D)

TIDMPGY

RNS Number : 3863D

Progility PLC

26 October 2015

26 October 2015

Progility plc

("Progility" or "the Company" or "the Group")

Option to acquire CareShield waived by mutual consent

Progility plc (AIM: PGY), the systems integrator and project management services firm, announces that it has agreed to waive its right to acquire the entire share capital, and any other rights over the shares, of CareShield Limited and CareShield Training Limited ("collectively known as CareShield") with immediate effect. Confidentiality clauses will remain in place.

On 11 February, 2013, the Company had announced it had entered into a three year option to acquire 100% of CareShield, a provider of digital learning solutions in the health and social care sector.

 
 For further information, please 
  contact: 
 
 Progility plc 
                                    020 7371 
 Wayne Bos, Executive Chairman          4444 
 Hugh Cawley, CFO 
 www.progility.com 
 SPARK Advisory Partners Limited 
  (Nominated Adviser) 
                                    020 3368 
 Mark Brady                             3551 
                                    020 3368 
 Sean Wyndham-Quin                      3555 
 
 
   W H Ireland Limited (Broker) 
                                    020 7220 
 Adrian Hadden/Mark Leonard             1666 
 
 

Group Description

Progility plc, the systems integrator and project management services firm has four divisions: Technology Solutions, Training, Consulting and Recruitment.

Technology Solutions

The technology solutions division comprises Progility Technologies in Australia and India and Starkstrom in the UK.

Progility Technologies operates a communication systems integration business that designs, implements and maintains solutions for medium and large enterprises with a focus on the rail, port, oil and gas, power, water and healthcare industries in Australia, on the healthcare, hospitality, financial services, public sector, manufacturing, education and IT sectors in India and on the mining industry globally.

The Australian business, which was merged with the Group in October 2013, is headquartered in Melbourne, Australia, and has offices in Sydney, Brisbane, Perth, Latrobe Valley, and Castlemaine. The Indian business joined the Group in December 2014, is headquartered in Mumbai and operates through a network of 21 offices throughout India.

Starkstrom is a UK-based project management services company specialising in manufacturing and supplying medical infrastructure equipment for operating theatres and intensive care units. Acquired in July 2014, Starkstrom is headquartered in north-west London and with a manufacturing and assembly facility in Leicester.

Training

The training division comprises ILX Group, which provides a blend of on-line learning, games and simulations, traditional classroom training, practical workshops and coaching. ILX delivers training in the UK Cabinet Office's best management practice products, primarily in PRINCE2, MSP and ITIL. Woodspeen based in the UK provides apprenticeships and skill developments with the help of public funding.

Consulting

The consulting division comprises Obrar in the UK, a consulting and project management services company, focused on multimedia contact centres, corporate technology infrastructure and associated operational change, with experience in delivering contact centre outsourcing on a global basis.

Recruitment

The recruitment division comprises TFPL, Sue Hill Recruitment and Progility Recruitment. TFPL is a recruitment, training and consulting business specialising in the knowledge, information and data management industries, acquired in July 2013. Sue Hill Recruitment, which was founded in 1997, is a specialist employment agency to the UK information, market research, insight and analysis sectors and was acquired in November 2013. Progility Recruitment, launched in 2014, is a Business Change and Transformation specialist, complimenting ILX's project management training and consulting businesses.

Progility Finco is a wholly owned subsidiary of Progility which was incorporated as a special purpose vehicle in order to issue loan notes which would be admitted to the Official List of the Channel Islands Securities Exchange Authority to help meet the financing requirements of the Group.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 26, 2015 03:19 ET (07:19 GMT)