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APTD - Aptitude Software News Story

701p 1.0  0.1%

Last Trade - 19/04/21

Sector
Technology
Size
Mid Cap
Market Cap £395.1m
Enterprise Value £352.1m
Revenue £57.3m
Position in Universe 662nd / 1819

BRIEF-Microgen Says To Demerge Microgen Financial Systems

Mon 25th March, 2019 7:44am
March 25 (Reuters) - Microgen PLC  MCGN.L :
    * BOARD HAS BEEN EXPLORING A RANGE OF STRATEGIC OPTIONS WITH
OBJECTIVE OF DELIVERING MAXIMUM VALUE TO SHAREHOLDERS
    * BOARD BELIEVES GREATER VALUE WILL BE REALISED THROUGH MORE
FOCUSED BUSINESS TARGETED AT SPECIALISED FINANCIAL MANAGEMENT
SOFTWARE MARKET
    * BOARD CONCLUDED DEMERGER OF MICROGEN FINANCIAL SYSTEMS ON
TO AIM
WILL ENHANCE CO'S ABILITY TO ALLOCATE CAPITAL AND MANAGEMENT
ATTENTION
    * DEMERGER SUBJECT TO SHAREHOLDER APPROVAL AND DEMERGED
ENTITY
WILL APPLY TO BE ADMITTED TO TRADING ON AIM DURING COURSE OF
2019
    * SHAREHOLDERS OF MICROGEN PLC WILL HAVE A DIRECT
SHAREHOLDING IN
DEMERGED ENTITY IN PROPORTION TO RESPECTIVE SHAREHOLDING IN
MICROGEN
    * ROBERT BROWNING, CURRENTLY LEADING MICROGEN FINANCIAL
SYSTEMS'
MANAGEMENT TEAM EXPECTED TO BE APPOINTED CEO OF DEMERGED
BUSINESS
    * PHILIP WOOD, WILL CONTINUE WITH MICROGEN PLC IN HIS
LONGSTANDING
ROLE OF CHIEF FINANCIAL OFFICE
    * NOW CONSIDERED APPROPRIATE TO CHANGE NAME OF CO TO
APTITUDE
SOFTWARE GROUP PLC; CHANGE WILL BE EFFECTIVE FROM EARLY APRIL
2019

Source text for Eikon:  ID:nRSY8019Ta 
Further company coverage:  MCGN.L 

 ((Reuters.Briefs@thomsonreuters.com;))
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