Maintel Holdings PLC Completion of Sale (2915X)

TIDMMAI

RNS Number : 2915X

Maintel Holdings PLC

30 April 2021

Maintel Holdings Plc ("Maintel" or "the Company")

Completion of the sale of the Managed Print Services Business Unit

Maintel, the leading provider of cloud and managed communication services, today announces that further to the conditional agreement announced on 18(th) March 2021, it has completed the sale of its Managed Print Services Business Unit to Corona Corporate Group Limited ("CCS") for a cash consideration payment of GBP4.5m ("Disposal"). The Disposal is in line with the Company's strategy of focusing on its transformation to a cloud-first managed services provider.

Commenting on completion of the transaction, Chief Executive Officer Ioan MacRae, said:

"I would like to thank our former Maintel Managed Print Services colleagues for their commitment to Maintel and our customers, and for their hard work in ensuring that this transaction could complete successfully - on behalf of the Board we wish them well for their future with CCS."

For further information please contact:

   Ioan MacRae, Chief Executive Officer                                 0344 871 1122 

Mark Townsend, Chief Finance Officer

Rufus Grig, Chief Strategy Officer

finnCap

   Jonny Franklin-Adams/Emily Watts/Kate Bannatyne (Corporate Finance)      020 7220 0500 

Richard Chambers (Corporate Broking)

Oakley Advisory Limited

   Victoria Boxall                                                              0207 766 2838 

Christian Maher

About Maintel:

Maintel is a cloud and managed services company with a focus on communications. Its people are experienced, trusted technology advisors, who improve their clients' organisations through digital transformation.

Founded in 1991, Maintel has a proven track record of delivering communications solutions and services to both the private and public sector. In that time, the company has gained the expertise to solve the challenges associated with digital initiatives, and its managed services approach ensures clients realise the full value of their technology.

This is achieved by specialising in three key pillars of digital transformation: making organisations more effective, efficient, and collaborative with digital workplace solutions; allowing organisations to acquire, develop, and retain more business by using technology to create more meaningful customer experiences through outstanding service; ensuring organisations' employees, customers, and partners always have seamless access to their data and applications through reliable, secure connectivity.

Ongoing growth of Maintel's cloud and managed services offerings continues to allow the company to keep supporting the increasing demands of the market.

Please visit www.maintel.co.uk for more information.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISWPUBUCUPGGAU

(END) Dow Jones Newswires

April 30, 2021 11:10 ET (15:10 GMT)