CEPS is selling its investment in the CEM group.
CAPS has an 80% stake in CEMTeal, which owns CEM Press and Sampling International. The purchase of Sampling International has not proved to be a success. Only £9 of the potential £1.2m payment has been made due to poor performance. The anticipated efficiencies from consolidating the two businesses have not been achieved.
The CEMTeal loss in 2018 meant that CEPS reported a profit less than one-half of what it would have been without the company being consolidated. The loss is increasing. CEPS is owed £2.1m by the CEMTeal businesses.
Moorfields Advisory has been appointed to advise CEPS and it believes that the businesses should be sold as quickly as possible.
© 2020 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Aeorema Communications is being hit be the postponement of events.
Walcom Group is short of cash and the chief executive has been unable to provide the funds he intended to lend to the company.
Broadcast software provider Pebble Beach Systems has delayed its 2019 figures due to COVID-19.