ISA International PLC
29 November 1999
Disposal of The Little Red Book Company (UK) Limited
('LRB')
On 22 November 1999, ISA International plc ('ISA')
disposed of its entire shareholding in LRB to a newly
formed holding company, EXY Group Limited ('EXY') which
consists of 3 companies engaged in the recycling,
remanufacture and distribution of electronic office
supplies ('EOS').
LRB is a remanufacturer of EOS, specialising in printer
toners and ink jets, and had net assets of approximately
£500,000 at the date of disposal. As consideration ISA
will receive 32% of EXY's enlarged share capital.
ISA will treat its retained holding in EXY as an
associate investment, and should benefit from cost
savings and integration benefits in the newly enlarged
business.