Business
Disposal of business
Disposal of business.
About this update from Empresaria Group Plc
[{"type":"text","content":"\n \nRNS Number : 8845M Empresaria Group PLC 30 August 2013 \n\n30 August 2013 \nEmpresaria Group plc (\"Empresaria\" or the \"Company\")\nDisposal of business\nEmpresaria, the AIM quoted staffing specialist, announces the disposal of the whole of the business and trading assets carried on by Bar 2 Limited (\"Bar 2\") to Procap Services Limited. In reviewing our portfolio of companies, which is primarily a staffing group focused on international emerging staffing markets, it was determined that Bar 2 no longer fitted that strategy. Following this transaction, the Company no longer operates any UK based business providing umbrella payroll services.\nThe consideration is an up-front cash receipt of £100,000 with a further £660,000 cash receivable in the future, contingent on performance. \nIn the year ended 31 December 2012, Bar 2 generated revenue of £1.6 million and profit before tax of £0.2 million. Net assets at 31 December 2012 were £0.1 million.\n \nFor further information contact: \n \n\n\n\n\nEmpresaria Group plc\nJoost Kreulen, Chief Executive\nSpencer Wreford, Group Finance Director\n\n\n01342 711 430\n\n\n\n\n\n\n\n\n\n\n\n\nShore Capital\nBidhi Bhoma / Edward Mansfield\n\n\n020 7408 4090\n\n\n\n\n\n\n\n\n\n\n\n\nNotes for editors:\nAbout Empresaria\n· Empresaria Group plc (AIM: EMR; Sector: Support Services, Staffing) operates in 18 countries with over 800 internal staff and has a strong focus on the development of emerging markets and speciality niche staffing sectors.\n \n· Empresaria Group plc applies a management equity philosophy and business model, with group company management teams holding significant equity in their own business.\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISPMMTTMBIJBPJ\n ","length":3557,"tagName":"div"}]