Business
Further re Sale of Portfolio
Further re Sale of Portfolio.
About this update from Parkmead Group Plc
[{"type":"text","content":"\n Interregnum PLC\n05 April 2006\n\n\n5 April 2006\n\n\n For immediate release\n\n\n Interregnum plc\n\n Proposed Sale Of Portfolio Companies Not To Proceed\n\n\nOn 2 March 2006, Interregnum plc (the 'Company') announced that it had\nconditionally agreed to sell a portfolio of its assets ('the portfolio\ncompanies') for £5million in cash.\n\nThe agreement was conditional upon, amongst other things, concluding detailed\narrangements in line with the original offer. It has unfortunately not been\npossible to agree these detailed terms on a mutually acceptable basis and\ntherefore it has been concluded that the sale cannot proceed as originally\nintended.\n\nIt is, however, the intention of the Board of the Company to realise value from\nthe portfolio companies, either collectively or as individual holdings. Any\nsignificant disposals will be subject to shareholder approval.\n\nCommenting, Interregnum plc Chief Executive Niall Doran said:\n\n'The board is committed to restructuring Interregnum plc to improve returns for\nits shareholders. The realisation of value from the portfolio is a component\npart of this process and will proceed as soon as suitable purchasers are found.'\n\n\nEnquiries\n\nNiall Doran\nChief Executive\nInterregnum plc 020 7494 3080\n\nMadano Partnership\nPR advisors to Interregnum\nMatthew Moth/Toby Wilkinson 0207 593 4000\n\n\n\n\n\nNotes to Editors\n\nThe key Portfolio Companies are:\n\nAdaptive Inc\nAudio Visual Machines Ltd\nFuture Route\nOilcats\nMetapraxis Ltd\nRed-M Group Ltd\nRespond Group Ltd\nYospace Technologies Ltd\n\n\nFurther information on the portfolio companies is set out below:\n\nRespond Group Ltd\n\nRespond is a software company which helps companies and government bodies\ndeliver customer service excellence and regulatory compliance, through the\nimplementation of customer complaint handling and feedback. Respond is now\nrecognised as the leader in its field, with more than 40,000 users of its\nsoftware in over 800 organisations.\n\nAudio Visual Machines Ltd\n\nAVM, established in 1990, is an audio visual solutions provider. The company\ndesigns, supplies, programs and supports complex audio visual systems ranging\nfrom boardroom presentation systems to IP-based video conferencing networks.\nAcquired VMC from Unique group in Oct 05.\n\nYospace Technologies Ltd\n\nYospace provides multime...