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Belgravium Technologies

  • BY: Andrew Hore |
  • POSTED: 14/05/2013 |

Warehouse data systems services provider Belgravium Technologies is buying Feedback Data from Feedback Group, which will become a shell.

Feedback Data could not generate enough profit to cover the costs of Feedback’s Aim quotation. Belgravium is paying £600,000 for Feedback Data. The cash will come from its existing resources – there was £1.6m in the bank at the end of 2013.

Belgravium has been seeking acquisitions for years but has found it difficult to find a suitable one. Feedback Data provides access control and workforce management via data terminals, as well as machine to machine device management. The business lost £54,000 on revenues of £1.9m in the year to May 2012.

Feedback expects the disposal of Feedback Data and the sale of its property will pay off its debts. The new investing strategy will be the acquisition of a software and IT sector business that requires little additional funding. Shareholders will vote on the disposal and new investing policy at a general meeting on 30 May. At 0.38p a share, Feedback is valued at £490,000.

At 2.75p a share, Belgravium is valued at £2.78m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2013_44.pdf

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