REG - Sorted Group Hldgs. - Disposal of Returns business

Sorted groupAnnouncement

04/10/2024 07:00

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RNS Number : 8864G  Sorted Group Holdings PLC  04 October 2024

This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.  With the
publication of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain.

 

4 October 2024

 

Sorted Group Holdings Plc

("Sorted" or the "Company" or the "Group")

 

Disposal of Returns business

 

Sorted Group Holdings Plc (AIM: SORT), a leading provider of delivery
experience and post-purchase technology, announces the disposal to ZigZag
Global Limited of the business and intellectual property (including the
software, systems and content assets) used to operate and deliver the Group's
"Returns" business used by small to medium fashion apparel retailers,
charities and educational institutions (the "Disposal").

 

The consideration to be received by Sorted for the Disposal is £775,000 in
cash, 25% of which will be received immediately with the balance to be
received in approximately 30 days. The cash will be used to settle the
Clicksit APP Limited liabilities of about £1.4m including accumulated losses
and transaction costs.

 

The gross assets the subject of the Disposal as at 31 December 2023 were
approximately £247,000 and generated a profit before tax in the 15 months
ended 31 December 2023 of approximately £64,000.

 

The Disposal will allow Sorted to focus on the innovation and growth of
"Ship", its flagship carrier management system, and "Track", its post-purchase
experience solution.

 

For further information please contact:

 

Sorted Group Holdings
Plc
Tel: +44 (0)3300 555 284

Simon Wilkinson, Chairman

Mahmoud Warriah, Chief Financial Officer

 

Allenby Capital Limited (Nominated
Adviser)
Tel: +44 (0)20 3328 5656

David Hart

Vivek Bhardwaj

 

Turner Pope Investments (TPI) Ltd
(Broker)
Tel: +44 (0)20 3328 5656

James Pope

Andy Thacker

 

About Sorted

 

Sorted's Delivery Experience supports retailers in providing exceptional
delivery experiences and analysing post-purchase performance. It enables
customers to track deliveries and returns or exchange of parcels with ease.

 

Founded more than a decade ago, Sorted is trusted by leading retailers - such
as Asda, ASOS and M&S - to make customer purchase experiences a
differentiator.

 

www.sorted.com (http://www.sorted.com)

@SortedOfficial (https://twitter.com/SortedOfficial)

Media contact - Leah Jones - ljones@thecommsco.com
(mailto:ljones@thecommsco.com)

 

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