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ArgentVive

  • BY: Andrew Hore |
  • POSTED: 24/02/2009 |

Books retailer and e-commerce company ArgentVive is selling part of its book wholesaling business Waterside Book Services.

Waterside’s management is paying £280,000 for the Waterside assets. This is based on £10,000 in cash and the assumption of liabilities of £270,000.

This disposal follows the sale of AuctionAssist’s assets in January for up to £76,000 and a 24% stake in the buyer, retailOn. The exact cash amount payable will depend on profits in the three years to December 2011. Loss-making AuctionAssist helps to sell excess stockholdings for companies.

ArgentVive has also sold Solcara, which has developed software for managing and searching digital information, to Access Intelligence for £750,000.

ArgentVive did not have the cash to develop these businesses. There could be further disposals.

At the suspension price of 1.375p a share, ArgentVive is valued at £570,000.The shares were suspended on 30 September 2008. 

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