REG - Wilmington PLC - MiExact sold for £9.6 million

WilmingtonAnnouncement

01/02/2024 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240201:nRSA6153Ba&default-theme=true

RNS Number : 6153B  Wilmington PLC  01 February 2024

1 February 2024

 

Wilmington plc

 

MiExact sold for £9.6 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 mortality data business, MiExact, for an
enterprise value of £9.6 million, subject to working capital adjustments, to
Information Services Bidco Limited. The business will continue to be run by
the existing management team, led by Managing Director Polly Avgherinos,
backed by Foundation Investment Partners.

 

The consideration consists of £6.6 million of cash on completion and £3
million of loan notes with a 7% coupon, deferred for up to three years.

 

For the year ended 30 June 2023, MiExact had gross assets of £20.5 million
and reported a profit before tax of £1.1 million.

 

The proceeds of the sale will be used for general corporate purposes.

 

Mark Milner, Chief Executive Officer of Wilmington, said

 

"This sale reflects our continued and active management of our portfolio as we
assess the potential of each business to exhibit the six common Wilmington
characteristics that we recognise as key drivers of organic revenue growth and
profitability improvement."

 

For further information, contact:

 

 Wilmington plc                          020 7490 0049

 Mark Milner, Chief Executive Officer

 Guy Millward, Chief Financial Officer

 Meare Consulting                        07990 858548

 Adrian Duffield

 

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.

 

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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISSDIEDFELSESF