ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

VEG Vega Grp.

273.20
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Vega Grp. LSE:VEG London Ordinary Share GB0009291500 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 273.20 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Disposal

09/07/2007 3:25pm

UK Regulatory


RNS Number:9074Z
Anite Group PLC
09 July 2007

                                                             Monday, 9 July 2007

                                 Anite Group plc

                          Disposal of Anite Deutschland

Anite Group plc ("Anite" or "the Group"), the worldwide IT solutions and
services company, today announces that it has disposed of Anite Deutschland
Management GmbH and its subsidiaries (together "Anite Deutschland") to VEGA
Group PLC for a total consideration of #8.0 million payable in cash on
completion. Anite Deutschland, which is based in Cologne, employs 90 permanent
staff and 80 associates and focuses on IT consultancy and systems integration in
a range of vertical markets such as defence and financial services.

The disposal follows the sale of eight other peripheral businesses in recent
years and represents the Group's last remaining business in the IT services
market in Europe. It is in line with Anite's stated strategy of focusing on
growth opportunities in its core markets as the Group continues its
transformation into a leading global software business, with a stronger focus on
wireless telecoms, from a public sector and IT consulting and services business.
In the immediate future, the consideration proceeds are being used to reduce
Group indebtedness.

In Anite's financial year ended 30 April 2007, Anite Deutschland generated
Euro17.3m (#11.7m) in revenues and achieved profit before interest and tax of Euro1.0m
(#0.7m). Net assets, excluding goodwill as at 30 April 2007 were Euro1.9m (#1.3m).
As the last remaining constituent of Anite's former International division, its
results will be shown as a discontinued activity in Anite's future results.

Commenting on the disposal, Steve Rowley, Anite's Chief Executive, stated:

"We are pleased to have completed this disposal. This follows the sale of other
peripheral businesses in recent years and is in line with our stated strategy of
focusing on growth opportunities in our core markets as we continue the
transformation of Anite into a leading global software business."


                                    - Ends -

Anite Group plc                                         www.anite.com
Steve Rowley, Chief Executive                           01753 804000
Chris Humphrey, Finance Director

Smithfield                                              020 7360 4900
Reg Hoare/Tania Wild





                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
DISSSFFLUSWSEEW

1 Year Vega Chart

1 Year Vega Chart

1 Month Vega Chart

1 Month Vega Chart

Your Recent History

Delayed Upgrade Clock