Business
Sale of Portfolio Holding
Sale of Portfolio Holding.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n Brainspark PLC\n07 June 2006\n\n\nFOR IMMEDIATE RELEASE 7 June 2006\n\n\n\n\n BRAINSPARK PLC\n\n ('Brainspark' or the 'Company)\n\n\n SALE OF PORTFOLIO HOLDING\n\n\nBrainspark today announces that it has agreed to dispose of its holding in Kerb\nLimited ('Kerb'), an internet services portfolio company.\n\nThe holding of 30,167 1p ordinary shares, which represented 25% of the issued\nshare capital of Kerb, will be sold back to the company for a cash consideration\nof £205,000. Under the Companies Act 1985 (the 'Act'), Kerb will give notice on\ncertain representations and subject to any creditor of Kerb prior to 6 July 2006\naplying to the court under under section 176 of the Act for an order prohibiting\nthe payment, will complete the share purchase transaction on 6 July 2006.\n\nKerb reported revenues for the year ended February 2006 of approximately\n£600,000 with pre-tax profit of around £13,000. In the Brainspark accounts, the\ncurrent book value of Kerb is £64,000.\n\nFrancesco Gardin commented on the disposal: 'We are pleased about this\ntransaction and we will use the proceeds for new technology seed investments,\nand the international growth of the Company '.\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1548,"tagName":"div"}]