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Clipper Ventures is selling its Zapcat Racing business.
The round the world yacht race organiser says the consideration is not material but it will be payable in four instalments up until 1 April 2012.
The Zapcat business was non-core and Clipper can concentrate on its yacht race operations.
At 4.25p a share, Clipper is valued at £1.66m. Chief executive William Ward bought 1.29m shares at 3.92p each on the 25 March 2009. This took his stake to 24.9%.
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