AMT Financial Training business sold for £23.4m

RNS Number : 7654W

Wilmington PLC

24 December 2021

 

24 December 2021

Wilmington plc

AMT Financial Training business sold for £23.4 million

Wilmington plc, (LSE: WIL 'Wilmington', 'the Group') the provider of data, information, education and training in the global Governance, Risk and Compliance markets, has sold its financial training business, AMT, for an enterprise valuation of £23.4 million in cash, subject to customary working capital adjustments, to StreetMasters Intermediate, Inc, a US holding company of Training The Street, LLC. 

AMT had gross assets of £2.0 million at 30 June 2021 and reported a loss before tax of £0.3 million for the year ended 30 June 2021.  The proceeds of the sale will be used to reduce Group debt and for general corporate purposes.  Wilmington's net debt (excluding lease liabilities) at 30 June 2021 was £17.2 million and this sale is expected to leave the Group in a net cash position (excluding lease liabilities).

The information contained within this announcement is deemed to constitute inside information as stipulated under the UK version of Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement this inside information is now considered to be in the public domain.

For further information, contact:

Wilmington plc  Mark Milner, Chief Executive Officer Guy Millward, Chief Financial Officer Meare Consulting Adrian Duffield

020 7422 6800 07990 858548

Notes to Editors

Wilmington plc is the recognised knowledge leader and partner of choice for data, information, education and training in the global Governance, Risk and Compliance (GRC) markets. Wilmington employs close to 1,000 people and sells to around 120 countries. Wilmington is listed on the main market of the London Stock Exchange.

 

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