Maxima sells sub-division for £1.6m
Maxima, an IT business systems and managed services company, has completed the sale of the business and assets of its Integrated Business Systems sub-division for a total consideration of £1.6m.
Maxima, an IT business systems and managed services company, has completed the sale of the business and assets of its Integrated Business Systems sub-division for a total consideration of £1.6m.
Of the payment, £1.4m has been paid in cash and a further £0.2m is deferred, pending renewal of certain annuity contracts. The cash received will be used to repay part of the company's banking facilities.
For the financial year ended 31 May 2011, it reported revenue of £1.7m and segmental adjusted earnings before interest, taxes, and amortization of £0.6m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Its net asset value in the group's accounts was £1.3m.
The share price 6.56% to 97.5p by 13:05.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Investors pull money from UK equities as government warns of “painful” Budget
The government’s post-election honeymoon period has been short-lived, and investors are shying away from UK equities as a result
By Katie Williams Published
-
Top global fintech companies to invest in
One British fintech hogs the headlines, but there are two top performers in the US. We explain where you should put your money
By David C. Stevenson Published