Interregnum PLC
05 April 2006
5 April 2006
For immediate release
Interregnum plc
Proposed Sale Of Portfolio Companies Not To Proceed
On 2 March 2006, Interregnum plc (the 'Company') announced that it had
conditionally agreed to sell a portfolio of its assets ('the portfolio
companies') for £5million in cash.
The agreement was conditional upon, amongst other things, concluding detailed
arrangements in line with the original offer. It has unfortunately not been
possible to agree these detailed terms on a mutually acceptable basis and
therefore it has been concluded that the sale cannot proceed as originally
intended.
It is, however, the intention of the Board of the Company to realise value from
the portfolio companies, either collectively or as individual holdings. Any
significant disposals will be subject to shareholder approval.
Commenting, Interregnum plc Chief Executive Niall Doran said:
'The board is committed to restructuring Interregnum plc to improve returns for
its shareholders. The realisation of value from the portfolio is a component
part of this process and will proceed as soon as suitable purchasers are found.'
Enquiries
Niall Doran
Chief Executive
Interregnum plc 020 7494 3080
Madano Partnership
PR advisors to Interregnum
Matthew Moth/Toby Wilkinson 0207 593 4000
Notes to Editors
The key Portfolio Companies are:
Adaptive Inc
Audio Visual Machines Ltd
Future Route
Oilcats
Metapraxis Ltd
Red-M Group Ltd
Respond Group Ltd
Yospace Technologies Ltd
Further information on the portfolio companies is set out below:
Respond Group Ltd
Respond is a software company which helps companies and government bodies
deliver customer service excellence and regulatory compliance, through the
implementation of customer complaint handling and feedback. Respond is now
recognised as the leader in its field, with more than 40,000 users of its
software in over 800 organisations.
Audio Visual Machines Ltd
AVM, established in 1990, is an audio visual solutions provider. The company
designs, supplies, programs and supports complex audio visual systems ranging
from boardroom presentation systems to IP-based video conferencing networks.
Acquired VMC from Unique group in Oct 05.
Yospace Technologies Ltd
Yospace provides multimedia messaging, personal storage and handset simulation
software and services to the mobile communications industry. Yospace clients
include over 1,500 mobile development companies, internet portals and mobile
operators such as Vodafone, O2, Orange and 3.
Red-M Group Ltd
Red-M Group (formed from the merger of CDS and Red-M Communications) is a
software products and services provider focusing on wireless, with unique
intellectual property relevant to wireless infrastructure and security.
Adaptive Inc
Adaptive is a web-based enterprise architecture knowledge repository solution
provider. Their products and services enable organisations to maximise the value
of their enterprise architecture initiatives, through exceptionally capable and
feature-rich support for the full scope of Enterprise Architecture planning and
implementation. By providing a 'big picture' view - and with their unique
capability to leverage disparate data sources into a holistic, secure enterprise
architecture framework - Adaptive provides management, in both business and IT,
with the ability to plan, organise, lead and monitor change in a much more
rigorous and effective manner.
Future Route
Future Route commercialises machine learning technologies for automatic rules
generation, pattern detection & accurate data modelling. Future Route's products
focus on fraud detection and automatic rules generation for fraud management
systems. Future Route's Machine Learning Predictive technology is called iHexTM.
The iHexTM multi-component architecture intelligently detects and learns about
patterns in aggregated and relational data sources. iHexTM machine learning
systems can be embedded into existing software applications and provided via
hosted web application services.
Metapraxis Ltd
Metapraxis is an international management consultancy and software group
specialising in Business Performance Visualisation. Their Consulting Services
Division engages in consulting projects with multinational client corporations
with annual sales revenues normally in excess of $500m.
Oilcats
Oilcats is a company providing content management solutions (cleansing,
classification, enrichment for structured product data) to the Energy sector
globally. Clients include leading Oil companies.
This information is provided by RNS
The company news service from the London Stock Exchange ND
FURSSIFFISMSEFL