News blog

Interactive Prospect Targeting Holdings/ Directex Realisations

  • BY: Andrew Hore |
  • POSTED: 07/01/2010 |

Interactive Prospect Targeting Holdings has completed the sale of Directinet and Netcollections subsidiaries.

The initial payment is €7m and there is balance consideration of €350,000 payable depending on the 2009 accounts and any adjustments required. A further €1m could be payable depending on performance but IPT believes it is unlikely that it will receive anything. The two companies are also expected to pay €480,000 owed to their former owner.

This will enable IPT to repay the €3.9m loan from Barclays plus interest.

IPT is also paying £1m to the landlord of its Vincent Square offices so that it can get out of the lease.

IPT will be left with a 12.2% stake in online marketing business Web-Clubs Ltd and possible tax recoveries in France. There are also some liabilities to settle. Management will consider the best way to return cash to shareholders.

IPT is changing its name to Directex Realisations and plans to leave Aim on 22 January 2010.

GLG Partners has sold its 3.1m shares in IPT.

At 1.125p a share, IPT is valued at £560,000.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds