Completion of disposal

 

TIDMIQH 
 
RNS Number : 4118G 
IQ Holdings plc 
01 February 2010 
 

 
                                                                01 February 2010 
 
 
 
                                IQ Holdings plc 
                            ("IQH" or the "Company") 
              COMPLETION OF THE DISPOSAL OF ROSSLYN AND VIEWPOINT 
 
 
Further to the announcement on the 24 December 2009, the Board of IQ Holdings 
plc announces that all conditions have been satisfied and that the disposal of 
Rosslyn Research Limited ("Rosslyn") and Viewpoint Field Services Limited 
("Viewpoint") to Rivington Street Holdings plc ("RSH") has today been completed. 
 
Julian Green, Neil McGowan, Joe Seydel and Gale Blears have today resigned as 
Directors of IQH. 
 
As detailed in the Circular and announcement dated 24 December 2009, the final 
amount of consideration payable to IQH (in RSH shares) is dependent on a 
creditors' statement to be produced within 20 business days from the date of 
completion. A further announcement will be made once the consideration has been 
finalised and the consideration shares have been issued. 
 
In addition, as detailed in the Circular, IQH has undertaken as soon as 
practicable to apply to the Court for a confirmation of the proposed 
cancellation of the capital redemption reserve, share premium account and 
reduction of share capital to allow the Company to distribute the majority of 
the RSH shares to IQH Shareholders. A further announcement regarding timetable 
will be made in due course. 
 
 
                                    --END-- 
 
 
For further information, please contact: 
+-------------------------------------------------------+-----------------------------------+ 
| IQ Holdings plc                                       |                                   | 
+-------------------------------------------------------+-----------------------------------+ 
| John Mitchel                                          |          Tel: [phone] | 
+-------------------------------------------------------+-----------------------------------+ 
 
+-------------------------------------------------------+-----------------------------------+ 
| Nominated Adviser:                                    |                                   | 
| Grant Thornton Corporate Finance                      |                                   | 
+-------------------------------------------------------+-----------------------------------+ 
| Gerry Beaney                                          |         Tel: [phone] | 
+-------------------------------------------------------+-----------------------------------+ 
 
+-------------------------------------------------------+------------------------------------+ 
| Nominated Broker:                                     |                                    | 
| Rivington Street Corporate Finance                    |                                    | 
+-------------------------------------------------------+------------------------------------+ 
| Dru Edmonstone                                        |           Tel: [phone] | 
+-------------------------------------------------------+------------------------------------+ 
 
+-------------------------------------------------------+------------------------------------+ 
| Financial PR:                                         |                                    | 
| Bishopsgate Communications                            |                                    | 
+-------------------------------------------------------+------------------------------------+ 
| Robyn Samuelson / Gemma O'Hara                        |          Tel: [phone] | 
+-------------------------------------------------------+------------------------------------+ 
 
For details of the transaction please see the Company's announcement made on 24 
December 2009. For the full Circular, please visit the Company's website at 
www.iqholdings.co.uk. 
 
Unless otherwise defined in this announcement, capitalised words and phrases 
used in this announcement shall have the same meanings given to them in the 
Circular dated 24 December 2009. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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