News blog
Strontium
- BY: Andrew Hore |
- POSTED: 30/06/2010 |
Small company consultancy Strontium has sold its Australian business to one of its managers.
Ian Seggar is paying £67,800 for the 90% of the business he does not own. It lost A$83,000 in its most recent financial period, although at the time of the Strontium interim figures it was said to be near to breaking even. A £124,000 loan to the subsidiary will be repaid to Strontium.
Management is seeking suitable professional services businesses to add to the group and the additional cash will come in handy.
Strontium appointed SVS as joint broker in May.
At 10p a share, up 0.5p on the day, Strontium is valued at £1.36m.
Strontium directors have been adding to their stakes. David Barker owns 18.2%, Michael Metcalfe owns 28.7% and Colin Brumpton owns 15.2%.
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