7th Aug 2015 11:10
LONDON (Alliance News) - Work Group PLC on Friday said it has decided to seek a buyer for its businesses after receiving a strategic review of its future option from SI Partners LLP.
In a statement, Work Group said that SI Partners is now managing a formal sale process, with indicative offers expected to be received before the end of August.
"While it is too early to provide any detail on this the board is encouraged with the level of interest being shown by potential purchasers," Work Group said in a statement.
Shareholder approval is required for any disposal.
An informal meeting with shareholders will be held on August 20, the company said, giving them the change to meet management if they wish to do so.
Shares in Work Group were untraded Friday afternoon. It last closed at 5.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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