Argentvive is disposing of non-core assets.
It plans to exit B2B social networking company Advance Warning and is selling the reverse auction platform to the group’s boss Charles Denton. It will receive £500,000 and a 24% shareholding in the new company that will own the assets. This stake will be diluted through fund raisings.
Solcara will become the core business. It offers search technology, reputation management and business continuity services. Solcara should reach profitability in the current year.
At 10.5p a share, Argentvive is valued at £4.33m.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.