Anite Group PLC
12 June 2001
Anite Group plc
('Anite' or 'the Company')
12th June 2001
Anite enters into a reseller agreement and exclusive UK software licence for a
minimum consideration of £5.5 million
Anite, the European IT consultancy and services company, today announces that
it has, through its wholly-owned subsidiary, Anite Public Sector Limited
('APS'), entered into an exclusive perpetual reseller and software licence
agreement relating to certain financial and customer relationship management
software in the local government market in the UK ('Agreement') with Cedar
Group Plc and Cedar Enterprise Solutions Limited ('CESL') in consideration for
a reseller fee of £2.5 million ('Reseller Fee') and a minimum commitment fee
of £3 million ('Minimum Commitment Fee').
The Reseller Fee will be satisfied as to £1.25 million by the issue and
allotment by Anite to CESL of Anite loan notes and as to £1.25 million by the
issue and allotment by Anite to CESL 90 days from completion of ordinary
shares of 10 pence each in the capital of Anite.
The Minimum Commitment Fee will be satisfied as to £1.5 million in cash,
payable in four quarterly instalments of £375,000 commencing on 30 June 2001
and as to £1.5 million by the issue and allotment to CESL of Anite loan notes.
The Agreement marks a further major commitment by Anite to the local
government market following on from the recent acquisitions from ICL and BCT.
With over 650 installations in the Public Sector, Anite is already a major
supplier to the market. This agreement will significantly increase market
share and further expands Anite's portfoio of departments and corporate
applications and services.
Anite's Chief Executive John Hawkins, commenting on the Agreement said:
'This Agreement firmly establishes Anite as the leading provider of software
solutions and managed services to the Public Sector. We are now even more
strongly positioned to take advantage of this rapidly expanding market being
driven by the government's joined up and e-government initiatives.'
For further information please contact: www.anite.com
Anite Group Plc 0118 945 0121
John Hawkins, Chief Executive
Anite Public Sector Limited 0161 972 2600
Ian Tait
Golin/Harris Ludgate 020 7324 8888
Peter Gaze/ Laurence Read
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