Disposal of Space Business

Anite Group PLC 03 August 2004 For immediate release Tuesday, 3 August 2004 Anite Group plc Proposed disposal of Space business Anite Group plc ('Anite' or 'the Group'), the worldwide IT solutions and services company, today announces that it has agreed to sell Anite Systems GmbH ('Anite Space'), its Space consultancy business based in Darmstadt, Germany, to Vega Group plc ('Vega') for a total consideration of £7.5m, payable in cash on completion. The disposal is subject to certain conditions, in particular Vega receiving approval for the acquisition from its shareholders at an Extraordinary General Meeting to be held on 25 August 2004. The proposed disposal is in line with Anite's stated strategy following its recent strategic review of disposing of non-core, peripheral businesses to better focus on its three core vertical markets of public sector, telecoms and travel. The consideration proceeds will be used to benefit the Group's cash position and provide greater financial flexibility. Anite Space reported operating profits of £0.8m (2003: £1.0m) on turnover of £4.9m (2003: £4.9m) in the year ended 30 April 2004, which were included in Anite's preliminary results for that period, announced on 13 July 2004. Net assets as at 30 April 2004 were £0.3m. These numbers will be shown as a discontinued activity in Anite's future results. Anite Space employs 60 staff out of a total of 564 in Anite's International division. Completion is expected to take effect on 2 September 2004. Commenting on the disposal, Steve Rowley, Anite's Chief Executive, stated: 'We are pleased to have agreed this disposal which is in line with our stated strategy of selling non-core businesses thus enabling us to better focus on our core markets.' - Ends - For further information, please contact: www.anite.com Anite Group plc 01753 804000 Steve Rowley, Chief Executive Christopher Humphrey, Group Finance Director Smithfield 020 7360 4900 Reg Hoare/Tehsin Nayani Print resolution images are available for the media to view and download from www.vismedia.co.uk This information is provided by RNS The company news service from the London Stock Exchange
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