Sopheon PLC
04 July 2003
Embargoed: 0700hrs 4th July 2003
SOPHEON PLC
('Sopheon')
SALE OF US BASED IM BUSINESS COMPLETED
Sopheon plc the international provider of software and services that improve the
financial return from innovation and product development investments, announces
that the sale of its US based Information Management division to FIND/SVP Inc,
details of which were announced on 26 June 2003, has now completed. As
previously announced, pursuant to the completion Sopheon has issued 388,350
ordinary shares of 5p each to FIND/SVP Inc being $100,000 (£59,880) of Sopheon
stock as required by the agreement. The shares are expected to be admitted to
trading on AIM on 9 July 2003.
Sopheon's Chairman, Barry Mence said:
'We are delighted that the transaction has completed ahead of schedule, allowing
us to draw a line under this significant milestone. As announced earlier this
week, we have also secured agreement from the holders of our convertible loan
stock to extend maturity to June 2005, another major step in our plan for
financing the implementation of our strategies and increasing focus on the
exceptional opportunity represented by Accolade, Sopheon's flagship software
solution for product development. We continue to make good progress on the
remaining elements of the plan-the review of our German operations, and driving
further growth into our software business. We will continue to update
shareholders on our progress.'
For further information contact:
Barry Mence, Sopheon plc Tel : + 44 (0) 1483 883 000
Chairman
Arif Karimjee, CFO
Adam Reynolds Hansard Communications Tel : + 44 (0) 207 245 1100
Andrew Tan + 44 (0) 7957 203 685
Barbara Jansen Citigate First Financial Tel : + 31 (0) 205 754 010
About Sopheon
Sopheon (LSE:SPE) is an international provider of software tools, experts and
content that help organizations improve the business impact of product
development. Sopheon enables clients to achieve higher, faster return on
innovation and product development investments through technology and
human-based decision support. The company's products and services include its
flagship Accolade(R) product development system and Knowledge Network (formerly
Organik(R)) expertise-sharing software. Sopheon is listed on the AIM market of the
London Stock Exchange and on the Euronext in the Netherlands. For more
information, please visit www.sopheon.com.
About FIND/SVP
FIND/SVP, Inc. (OTCBB: FSVP) is a knowledge services company that offers a full
suite of custom business intelligence, advisory, and consulting solutions to
address clients' critical business issues. FIND/SVP helps executives enhance
their business performance and profit from opportunities through targeted
research and advisory work, providing its nearly 2,000 member clients with a
competitive business advantage. Founded in 1969, FIND/SVP is the second largest
member of the global SVP Group, which serves more than 75,000 executives in
11,000 companies worldwide. For more information, please visit www.findsvp.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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