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Maxima Holdings

  • BY: Andrew Hore |
  • POSTED: 18/10/2011 |

IT services provider Maxima Holdings says that Ian Smith has taken over the role of executive chairman and he plans to sell non-core operations.

Founder Kelvin Harrison has stepped down as chairman and chief executive Graham Kingsmill is also leaving. Harrison remains as a consultant.

Smith joined the board as a non-executive on 19 September. He is also a director of Redstone and Accumuli. He was previously a director of Xploite, which merged with Avisen. He joined the Avisen board but there was a falling out between the two management teams and Smith left.

Maxima is raising 2m at 20p a share in order to provide working capital for the business. It will also help to make sure that the disposals realise as much cash as possible.

At 27.5p a share, up 1.5p, Maxima is valued at 7m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2011_25.pdf

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