28th Jun 2019 14:31
(Alliance News) - Aptitude Software Group PLC on Friday said it completed the sale of Microgen Financial Systems Ltd and proposed return of value to shareholders of GBP45 million.
The disposal was first announced at the end of May and approved by the company's shareholders on Monday. Aptitude said on Friday, it has secured GBP51.4 million after the sale.
The AIM-listed firm said it intends to return 73 pence per share to shareholders, representing GBP45 million in total. After considering the scale of the proceeds to be returned and the balance of shareholder preference, Aptitude proposed to implement the return the funds by way of a B share scheme.
The stock was trading 2.1% lower on Friday in London at 431.00p a share.