DISPOSAL OF INTEREST IN RSS WEB LTD TO LOWRY INVESTMENT CAPITAL
08 Agosto 2008 - 5:57AM
UK Regulatory
08/08/2008
GB0009606764
ANS GROUP PLC
(PLUS)
("ANS Group" or "the Group")
DISPOSAL OF INTEREST IN RSS WEB LTD TO
LOWRY INVESTMENT CAPITAL
The Board of ANS Group, a leading IT and Telecoms solution provider, today announces that on 5 August
2008 the Group disposed of its 80% interest in RSS Web Ltd (RSS) to Lowry Investment Capital (Lowry)
for consideration of �300,000. Following the transaction the Group holds no shares in RSS, which is
not core to the Group's business moving forward. The Board of Directors has considered the disposal of
RSS Web Ltd to Lowry Investment Capital and that the Directors deem the transaction to be fair and
reasonable to shareholders.
The consideration will be payable to ANS Group as an unsecured loan note carrying 8% interest for the
life of the loan until it expires. The Group initially acquired its interest in RSS on 27 July 2007
for the consideration of 1,000,000 shares in its subsidiary Smart Identity Plc that was floated onto
the PLUS market on 20th September 2007.
The consideration represents a premium to the price paid for RSS on its acquisition by ANS Group and
represents a P/E of 4 based on 2008 audited figures. The latest audited accounts for the period
28/7/07 to 31/3/08 show turnover of �257,443 and profit after tax of �50,766.
Not having been integrated into the Group, RSS has become a non-core business . The profit of
approximately �104,000 made on the disposal of its holdings within RSS, allows ANS Group to continue
focusing its efforts in growing its core business and on making acquisitions.
Lowry Investment Capital Limited is a trust wholly owned by The Scott Fletcher 2008 Discretionary
Settlement ("the Trust"). The trustees of the Trust are Scott Fletcher and Stephen Fletcher, Scott
Fletcher's father ("the trustees"). The beneficiaries of the Trust are Scott Fletcher's children and
their descendants in the first instance. Scott Fletcher is the CEO of ANS Group and Chairman of Lowry
Investment Capital.
ANS Group Finance Director, Chris Malthouse commented:
"I would like to thank the RSS staff for their contribution over the past 12 months and wish the
company success moving forwards. This disposal allows the Group to move forward and focus on the
significant acquisition opportunities currently presented to it."
---ENDS---
The directors take responsibility for the contents of this announcement.
ENQUIRIES
ANS GROUP PLC TEL: 0161 227 1000
Scott Fletcher, Chairman
scott.fletcher@ansgroup.co.uk
ST HELEN'S CAPITAL PLC TEL: 020 7628 5582
Duncan Vasey
BISHOPSGATE COMMUNICATIONS LTD TEL: 020 7562 3350
Jenni Herbert
ansgroup@bishopsgatecommunications.com
About ANS Group
ANS Group is a technology infrastructure specialist in the provision of hardware, software and 24/7
managed services to Enterprise businesses. Operating within both public and private sectors, its
leading and award-winning solutions are offered in three key areas;
- Unified Communications & Wireless
- Storage, Storage Management & Virtualisation
- Security & Identity Management
Based in Manchester, ANS Group delivers consistently high levels of customer service through all
project deployments and ongoing support to its 400 plus client base. Working closely with key partners
Cisco, Hitachi Data Systems, Microsoft, Novell, vmware and Smart Identity allows ANS Group to offer an
unrivalled level of expertise and experience in the multifaceted industry of IT.
Visit us at www.ansgroup.co.uk.
ANS Group Plc
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