Disposal
17 Mayo 2007 - 10:10AM
UK Regulatory
Fairplace plc (the "Company")
Disposal of Italian Subsidiary
The Board announces that it has sold Fairplace Consulting (Italy) Srl ("FCI"),
a wholly owned subsidiary of the Company for a consideration of Euro1 to Articolo
1 S.p.A (the "Purchaser"), a private Italian company, which provides a range of
staffing and HR services. FCI which provides outplacement and coaching
services, was acquired by the Company in 2003 and has been loss making.
FCI's turnover for the 12 month period to 30 June 2006 was Euro601,861 and the net
loss was Euro65,685. The carrying value of the FCI investment in the Company's
balance sheet as at 30 June 2006 amounted to �200,000.
FCI will continue to use the Fairplace brand name under a separate licence
agreement.
Contact
Mark Allsup, Chairman
Fairplace plc
Tel 020 7816 0707
Liam Murray, Nominated Adviser
City Financial Associates Limited
Tel 020 7 090 7800
END
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