Business
Disposal
Disposal.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n Fisher (James) & Sons PLC\n15 June 2007\n\n\n15 June 2007\n\n\n\n JAMES FISHER SELLS SHIPS ELECTRONIC SERVICES LIMITED \n TO ITS MANAGEMENT FOR £396,000 \n\n\nJames Fisher and Sons plc ('James Fisher' or FSJ.L), the leading marine service\ncompany, announces the sale of its wholly owned subsidiary, Ships Electronic\nServices Limited ('SES'), to four members of the current management of SES.\n\n\nThe cash consideration of £396,482, equal to the net assets, is payable at\ncompletion, which is expected to be on or before 30 June 2007. The purchasers\nare Colin Anderson Director of SES, Paul Rees Director of SES, Simon Wood an\nemployee of SES and Stephen Roper who was Finance Director of FT Everard & Sons\nLimited at the time of its purchase by James Fisher. Stephen Roper will become\nManaging Director of SES.\n\n\nSES, which supplies and maintains marine electronic navigation, communication\nand entertainment equipment, is a subsidiary of FT Everard & Sons Limited and\nwas purchased by James Fisher in December 2006. SES had net assets of £415,720\non 31 December 2006 and made a loss of £253,168 before tax in the year to 31\nDecember 2006.\n\n\nTim Harris, Chairman of James Fisher, said:\n\n\n'The underlying business of SES was not core to James Fisher and the future of\nthe company is better assured under the ownership of its management.'\n\n\nStephen Roper, Acting Managing Director, said:\n\n\n'SES has been part of the Everard family of companies for many years and has\nretained a strong niche position in the industry. The purchase gives our team an\nopportunity to concentrate on its development in the future.'\n\n\nEC Hambro Rabben & Partners Ltd acted as corporate finance advisors to James\nFisher.\n\n\nFor further information please contact:\n\n\nJames Fisher and Sons plc Tim Harris Chairman 020 7614 9508\n\nwww.james-fisher.co.uk\n\n\nShips Electronic Services Stephen Roper Acting Managing Director 01322 394 514\n\[email protected]\n\n\nEC Hambro Rabben & Partners Eivind Rabben 020 7355 4100\n\nwww.echambrorabben.co.uk Peter Donald\n\n\nFinancial Dynamics Richard Mountain 020 7269 7121\n\n Susanne Yule\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2588,"tagName":"div"}]