News blog

Plus Markets Group

  • BY: Andrew Hore |
  • POSTED: 17/06/2012 |

Plus Markets Group has agreed to sell Plus Trading Solutions and this should increase the cash it will be able to distribute to shareholders.

The initial consideration for Plus-TS is £1 but there is deferred consideration of £281,000, which will be generated from a contract to supply services to Plus-SX – assuming that that disposal goes ahead. The deferred consideration will be paid monthly over the nine month contract. If the sale of Plus-SX does not go ahead then Plus Markets will still benefit from £54,000 in cost savings.

The purchaser is FORUM, which is run by Plus employees and Hirander Misra, the co-founder of Chi-X Europe.

Assuming all the proposed disposals go ahead there should be £1.47m of cash left in Plus Markets. The plan is to leave Aim and win-up the company.

There is unlikely to be any significant cash raised from a sale of Plus-DX.

Ahmed Al Asfour has been removed as the director representing Amara Dhari Investments Ltd on the board. His family owns 50% of Amara Dhari and he disputes the validity of his removal.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2012_33.pdf

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds