Anite Group PLC
25 February 2005
For immediate release Friday, 26 February 2005
Anite Group plc
Completion of Datavance Disposal
Anite Group plc ('Anite' or 'the Group'), the worldwide IT solutions and
services company, announces that the disposal of its Paris-based IT consultancy,
Datavance, was completed earlier today.
The total cash consideration of €19.0 million (circa £13.1 million) has been
received in full. In the short term, the proceeds of the disposal will be
utilised for working capital purposes and will strengthen the Group's balance
sheet. Datavance's results will be reported as a discontinued activity in the
Group's future results.
Commenting on completion, Steve Rowley, Anite's Chief Executive, stated:
'This sale is a further important step in our programme of disposals of
non-core, peripheral businesses, to better focus on growth opportunities in our
core markets.'
For further information, please contact: www.anite.com
Anite Group plc 01753 804000
Steve Rowley, Chief Executive
Christopher Humphrey, Group Finance Director
Arma Partners 020 7290 8100
Adam de Courcy Ling/John Meehan
Smithfield 020 7360 4900
Reg Hoare/Sara Musgrave
This information is provided by RNS
The company news service from the London Stock Exchange
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