Pulsar Group PLC Disposal

RNS Number : 2220O

Pulsar Group PLC

02 December 2024

 

 

Pulsar Group Plc

("Pulsar" or the "Company")

Disposal

 

Pulsar Group Plc (AIM: PULS), the technology innovator delivering Software-as-a-Service (SaaS) solutions for the global marketing and communications industries, is pleased to announce that it has sold the majority of its 21% shareholding in TrackRecord Holdings Limited, the holding company of compliance management company Trailight, for a cash consideration of £1.4m. The Company now retains a 1% shareholding in TrackRecord Holdings Limited.

 

For the year ended 30 November 2023, Pulsar's recorded a loss of c.£198,000 on its income statement associated with this minority interest and the carrying value of the shareholding on the interim accounts balance sheet of Pulsar as at 31 May 2024 was c.£160,000. Pulsar expects to recognise a profit on disposal of £1.2m.

 

Christopher Satterthwaite, Non-Executive Chairman, commented

 

"We are delighted to crystalise the value of our minority shareholding in Trailight with the proceeds of the transaction being used in the Group's strategy of capitalising on the market opportunity and enhancing the profitability and cash generation of the Company."

 

For further information:

Pulsar Group plc                                                                                                                                               020 3426 4070

Joanna Arnold (CEO) / Mark Fautley (CFO)

                                                                                                         

Cavendish Capital Markets (Nominated Adviser and Broker)                                                                        020 7220 0500

Corporate Finance:

Marc Milmo / Fergus Sullivan                                           

Corporate Broking:

Sunila de Silva

 

 

 

 

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