TP Group PLC Sale of Sapienza Consulting Ltd. (9875M)
26 Mayo 2022 - 10:50AM
UK Regulatory
TIDMTPG
RNS Number : 9875M
TP Group PLC
26 May 2022
This announcement contains inside information
TP Group plc
("TP Group", "the "Company" or the "Group")
Sale of Sapienza Consulting Ltd.
TP Group (AIM: TPG), announces that, following the review of the
Group's non-core operations in relation to its wider strategy as
announced on 1 November 2021, it has entered into a conditional
agreement to dispose of the entire issued share capital of Sapienza
Consulting Holdings BV to Serco Holdings Ltd (a wholly owned
subsidiary of Serco Group plc) for a cash consideration of c.
EUR3.2m. Completion of the disposal is subject to regulatory
clearance in the UK, France and Italy which is anticipated to take
approximately six to eight weeks. The Company will make a further
announcement in due course.
On completion net proceeds of c. GBP2m will be used to part
repay the Group's GBP7m loan facility with HSBC Bank Plc.
In the determination of accepting the valuation and final terms,
Martyn Ratcliffe and Peter Bertram recused themselves from the
decision and did not participate in the Board vote.
TP Group plc Tel: 01963 34444
Derren Stroud, Chief Financial Officer
www.tpgroupglobal.com
Cenkos Securities plc Tel: 020 7397 8980
Stephen Keys / Mark Connelly / Callum
Davidson
www.cenkos.com
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