News blog
Real Affinity
- BY: Andrew Hore |
- POSTED: 30/04/2008 |
Real Affinity is selling its marketing services businesses.
Swindon-based conference and event management company Conferaccom is being sold for £1 and the assumption of an inter group loan of £2.1m. The other businesses are likely to go as well.
Real Affinity says that it will sell “substantially all of its business activities” and become a shell. Its main business is direct and digital marketing services.
Real Affinity is selling Conferaccom to its former owners. It is also paying them £300,000 in settlement of the deferred consideration they are owed. Real Affinity paid £750,000 - £500,000 in cash and 125m shares – in June 2006 and there was potential deferred consideration of up to £1.25m.
Conferaccom made operating profits of £248,000 on turnover of £14.17m in the year to March 2007.
At 0.014p a share, the company is valued at £460,000.
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