REG - Wilmington PLC - AMT Financial Training business sold for £23.4m

WilmingtonAnnouncement

24/12/2021 11:00

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RNS Number : 7654W  Wilmington PLC  24 December 2021

24 December 2021

 

Wilmington plc

 

AMT Financial Training business sold for £23.4 million

 

Wilmington plc, (LSE: WIL 'Wilmington', 'the Group') the provider of data,
information, education and training in the global Governance, Risk and
Compliance markets, has sold its financial training business, AMT, for an
enterprise valuation of £23.4 million in cash, subject to customary working
capital adjustments, to StreetMasters Intermediate, Inc, a US holding company
of Training The Street, LLC.

 

AMT had gross assets of £2.0 million at 30 June 2021 and reported a loss
before tax of £0.3 million for the year ended 30 June 2021.  The proceeds of
the sale will be used to reduce Group debt and for general corporate
purposes.  Wilmington's net debt (excluding lease liabilities) at 30 June
2021 was £17.2 million and this sale is expected to leave the Group in a net
cash position (excluding lease liabilities).

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the UK version of Market Abuse
Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018. Upon the publication of this
announcement this inside information is now considered to be in the public
domain.

 

For further information, contact:

 

 Wilmington plc                          020 7422 6800

 Mark Milner, Chief Executive Officer

 Guy Millward, Chief Financial Officer

 Meare Consulting                        07990 858548

 Adrian Duffield

 

Notes to Editors

Wilmington plc is the recognised knowledge leader and partner of choice for
data, information, education and training in the global Governance, Risk and
Compliance (GRC) markets. Wilmington employs close to 1,000 people and sells
to around 120 countries. Wilmington is listed on the main market of the London
Stock Exchange.

 

 

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