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  • BY: Andrew Hore |
  • POSTED: 09/07/2007 |

Formscan, one of the original 10 Aim companies, is selling most of its business. 

Formscan is selling its document solutions business, which provides automatic invoice processing data capture services. This is a loss making business. Formscan will receive £75,000 plus the repayment of a inter-company loan of £250,000. This should provide Formscan with enough working capital for at least 12 months. The group is changing its name to Inspectron Holdings and the remaining business is a security printing operation. It hopes to take advantage of e-passport and other security requirements. Management says that there are high barriers to entry but the remaining business is tiny for a quoted company. In the last full financial year it made a profit of £137,000 on turnover of £1.2m. 

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