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St Ives PLC Announces Disposal

Monday, 30 Sep 2013 02:00am EDT 

St Ives PLC announced that it has sold St Ives Direct Bradford Limited to Cogent B2B Limited, as part of its continuing strategy to refocus the Group's business. Total consideration for the Disposal will be GBP8 million, comprising GBP3 million payable immediately and GBP5 million of deferred consideration. The deferred consideration is repayable in 24 monthly instalments commencing on November 1, 2013, guaranteed by Cogent B2B Limited and secured over SIDB's assets. The net proceeds of the Disposal will be used to support further development of the Group's business. 

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2.0 +0.94%
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