REG - Pulsar Group PLC - Disposal

PulsarAnnouncement

02/12/2024 07:00

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RNS Number : 2220O  Pulsar Group PLC  02 December 2024

 

Pulsar Group Plc

("Pulsar" or the "Company")

Disposal

 

Pulsar Group Plc (AIM: PULS), the technology innovator delivering
Software-as-a-Service (SaaS) solutions for the global marketing and
communications industries, is pleased to announce that it has sold the
majority of its 21% shareholding in TrackRecord Holdings Limited, the holding
company of compliance management company Trailight, for a cash consideration
of £1.4m. The Company now retains a 1% shareholding in TrackRecord Holdings
Limited.

 

For the year ended 30 November 2023, Pulsar's recorded a loss of c.£198,000
on its income statement associated with this minority interest and the
carrying value of the shareholding on the interim accounts balance sheet of
Pulsar as at 31 May 2024 was c.£160,000. Pulsar expects to recognise a profit
on disposal of £1.2m.

 

Christopher Satterthwaite, Non-Executive Chairman, commented

 

"We are delighted to crystalise the value of our minority shareholding in
Trailight with the proceeds of the transaction being used in the Group's
strategy of capitalising on the market opportunity and enhancing the
profitability and cash generation of the Company."

 

For further information:

Pulsar Group plc
 
                                                                 020
3426 4070

Joanna Arnold (CEO) / Mark Fautley (CFO)

 

Cavendish Capital Markets (Nominated Adviser and Broker)
 
      020 7220 0500

Corporate Finance:

Marc Milmo / Fergus Sullivan
 

Corporate Broking:

Sunila de Silva

 

 

 

 

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