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Prices & Quotes - UK Markets - Gresham Technologies (GHT)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
172.00p
Change Today:
0.000p
Market Cap:
£143.39m
Sector:
Software & Computer Services

Gresham Computing sells Banking and Lending business

Date: Monday 11 Mar 2013

LONDON (ShareCast) - Gresham Computing has completed an agreement to sell its 100 per cent equity share interest in Gresham Computing Inc (Canada) (GCIC) to BITSS Global Inc. (Bevertec) for a total consideration of 0.5m pounds.

GCIC is registered in Ontario and is a provider of banking and lending solutions predominantly to the Caribbean banking and financial institution market.

The consideration represents a settlement of the inter-company debt owed by GCIC to Gresham and a nominal amount for the shares of GCIC.

Gresham Computing said that the consideration was satisfied in cash in full on closing and that the proceeds from the disposal would be used for general corporate purposes.

The unaudited gross assets of GCIC as of December 31st were £0.4m and its unaudited revenue was £1.8m. Gresham reported that the group loss on disposal of GCIC was approximately £0.3m with a net cash inflow of approximately £0.3m and the disposal is expected to have little impact on the group's ongoing profitability at an operating level.

Chris Errington, Chief Executive Officer of Gresham Computing, said: "We are pleased to announce the disposal of our Banking and Lending business, whose employees and customers will benefit from being owned by a company that has a strong presence in the Caribbean market with existing core strengths in financial markets.

“This transaction represents the final step in the restructuring and refocusing of Gresham's activities, which to date has resulted in a transition to stability, profitability and growth."

Gresham Computing’s share price was unchanged at 85.88p at 13:12 on Monday.

MF

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

GHT Market Data

Currency UK Pounds
Price 172.00p
Change Today 0.000p
52 Week High 176.50p
52 Week Low 132.50p
Volume 8,037
Shares Issued 83.36m
Market Cap £143.39m
Beta 0.32

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GHT Dividends

  Latest Previous
  Final Final
Ex-Div 15-Apr-21 09-Apr-20
Paid 20-May-21 21-May-20
Amount 0.75p 0.75p

Trades for 03-Dec-2021

Time Volume / Share Price
09:52 5,753 @ 172.86p
08:03 2,284 @ 172.87p

GHT Key Personnel

CEO Ian Manocha