Business
Disposal
Disposal.
About this update from Eleco Plc
[{"type":"text","content":"\n \n \n RNS\n \n \n 20th February 2023\n \n \n \n Eleco Plc\n \n \n \n (\"Eleco\", \"Group\" or the \"Company\")\n \n \n \n \n \n \n Sale of CAD business, Arcon\n \n \n \n \n \n \n \n \n \n Sale of Architectural CAD business reinforces core strategic focus\n \n \n \n \n \n \n The Board of Eleco Plc (AIM: ELCO), the AIM-listed construction and building software specialist, is pleased to announce the sale of its wholly owned subsidiary Eleco Software GmbH, the German Arcon architectural CAD business (\"Arcon\"), to FirstInVision GesmbH, an Austrian architectural software business, for a total consideration of €600,000. \n \n \n \n \n \n The transaction supports the Group's strategy to focus on its core customer segments and businesses. \n \n \n \n \n \n The €600,000 consideration is to be satisfied in cash, with €550,000 immediately payable on completion, and €25,000 in two deferred instalments (without performance conditions attached) over the next two years. \n \n \n \n \n \n \n Jonathan Hunter, Eleco's CEO, commented:\n \n \n \n \n \n \n \"This transaction reinforces our strategy to focus on our core businesses as we successfully transition these businesses on the SaaS journey; it brings greater certainty for the Arcon business, staff and customers going forward; and, also frees up valuable management time for application to other parts of the business and acquisitions.\" \n \n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n Eleco plc\n \n \n \n \n \n +44 (0)20 7422 8000\n \n \n \n \n \n \n Jonathan Hunter, Chief Executive Officer\n \n \n \n \n \n \n \n \n \n \n \n \n \n Neil Pritchard, Chief Financial Officer\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n finnCap Ltd\n \n \n \n \n \n +44 (0)20 7220 0500\n \n \n \n \n \n \n Geoff Nash/ Emily Watts/Seamus Fricker (Corporate Finance)\n \n \n \n \n \n \n \n \n \n \n \n \n \n Charlotte Sutcliffe / Harriet Ward (Equity Capital Markets)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n SEC Newgate UK\n \n \n \n \n \n +44 (0)20 3757 6882\n \n \n \n \n \n \n Elisabeth Cowell/Bob Huxford\n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n About Eleco plc\n \n \n \n Eleco plc ...