IN BRIEF: Cornerstone FS to sell subsidiary Capital Currencies
20th Sep 2023 20:22
Cornerstone FS PLC - cloud-based payment provider - Says it will sell its non-trading subsidiary Capital Currencies Ltd for GBP150,000, as it enters a share purchase agreement. Does not disclose buyer. Chief Executive Officer James Hickman says: "This is a great outcome for Cornerstone, generating value from the sale of a licence, that is surplus to our requirements, to a non-competing business. As with the sale of our Avila House subsidiary at the start of the year, which was acquired for its small e-money licence, this transaction also demonstrates the importance of payments and e-money registrations and the value that purchasers place on them." Read More