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Lighthouse Group PLC sells interest in subsidiary

Friday, 20 Dec 2013 02:00am EST 

Lighthouse Group PLC:Announces the sale of its 50.1 per cent. holding in the shares of Deverill Black & Company Limited (Deverill Black), a subsidiary of the company and an Appointed Representative of the Group, to Towry Limited.Says having been approached and concluded that the holding was not strategic in nature, the Group accepted the offer made for its shareholding in Deverill Black.Says the gross consideration (before costs) from the sale amounted to 501,000 pounds and was paid in cash at completion.Says these funds will be retained within the Group as part of the Group's overall working capital resources. 

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