REG - Bonhill Group PLC - Disposal of BSG division

BonhillAnnouncement

26/08/2022 07:00

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RNS Number : 2830X  Bonhill Group PLC  26 August 2022

26 August 2022

 

Bonhill Group plc

("Bonhill", the "Company" or the "Group")

 

Sale of Business Solutions Group

 

Bonhill Group plc (AIM: BONH), a leading B2B media business specialising in
financial services providing media, events and data & analytics, announces
the sale of its Business Solutions & Governance ("BSG") division for cash
consideration of £723,000 to Stubben Edge Group Limited (the "Sale").

 

The BSG division comprises brands, including SmallBusiness.co.uk,
GrowthBusiness.co.uk, Information-Age.com, and DiversityQ which includes the
'Women in…' events series. In FY 2021, the BSG division reported audited
revenues of approximately £2.4 million and EBITDA of approximately £0.4
million. It currently employs approximately 20 staff.

 

The consideration payable comprises an initial payment of £650,000 for the
core trade and assets of the division and the balance of £73,000 will be
payable to reimburse the Company for any deposits paid to secure venues less
any advanced revenue received. The Company intends to invest the net proceeds
of the Sale in:

 

·      Live events;

·      Global ESG brand extensions and initiatives;

·      Content marketing solutions and video creation capability; and

·      Working capital purposes.

 

The Sale will also enable the Group to achieve approximately £0.6 million in
annual cost savings from streamlining central support headcount, reduced
office space and lower IT costs. The full benefit of these will be achieved in
2023. Furthermore, following the Sale, the Group will be more focused, less
capital intensive, less complex and will generate higher margins.

 

Patrick Ponsford, Bonhill's Group CEO, commented:

"We are pleased to have concluded the sale of the brands in the Business
Solutions Division. Following completion, Bonhill is a global financial
services specialist, expanding its product offerings and building expertise in
its core markets in the US, UK, Europe and Asia."

 

Chris Kenning, Stubben Edge's Group CEO, commented:

"Customer tastes are changing quicker than the financial services industry is.
 Bringing together the BSG capabilities to offer insight, analytics and
high-quality content with Stubben Edge Group's Broker and IFA network creates
a unique proposition to help solve some of the problems the SME market faces."

 

For further enquiries please contact:

 

Bonhill Group
plc
+44 (0)7714 660 943

Patrick Ponsford, Group CEO

 

Shore Capital (Nominated Adviser and Broker)
                      +44 (0)20 7408 4050

Tom Griffiths/David Coaten

 

About Bonhill Group plc

Bonhill Group plc is a leading, AIM-quoted, B2B media company providing
Business Information, Events and Data & Insight propositions to the global
Financial Services community. Bonhill operates multiple digital platforms, has
market leading media brands, hosts over 100 events per annum, offers a
portfolio of data & analytics propositions and provides a range of content
marketing solutions.

 

Bonhill operates exclusively in the financial services space where its brands
and services are acknowledged as market leaders. It specialises in enhancing
the relationship and flow of information between the global community of
financial services providers and the advisers who recommend their products.
Bonhill was early to recognise the growing importance of ESG in asset
allocation and fund selection and now owns the leading global platform in this
space, serving the adviser community.

 

Flagship brands include: InvestmentNews, ESG Clarity, Portfolio Adviser, Fund
Selector Asia, Expert Investor Europe, UK Adviser and International Adviser.

 

Offices in New York, London, Singapore and Hong Kong.

 

For more information visit www.bonhillplc.com (http://www.bonhillplc.com) .

 

About Stubben Edge Group Limited

Stubben Edge Group specialises in creating innovative products and technology
for the financial services and insurance industries.

With a private client heritage and backed by Lloyd's Names, the group has
expanded to building systems, technologies, and cutting-edge analytics. The
result? A new distribution portal that's the only single, networked system for
IFAs, brokers and ARs looking to really grow their businesses.

For more information visit www.stubbenedge.com (http://www.stubbenedge.com) .

 

 

 

 

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