3rd May 2005 07:00
TTG Europe PLC03 May 2005 For Immediate Release 3 May 2005 TTG EUROPE PLC ("TTG" or "the Company") Completion of Sale of Anglia Telecom TTG announces that it completed the sale of its subsidiary, Anglia TelecomCentres Limited ("Anglia") to Symphony Telecom Holdings plc ("Symphony"), asubsidiary of Eckoh Technologies plc on the 29 April. The total considerationof up to £10 million is payable in three tranches. £7.5 million was paid oncompletion and a further £200,000 is payable on 16th May. The balance of theconsideration of £2.3 million is payable on 31st May although up to £500,000 ofthat consideration may be retained in a joint account of the parties' solicitorspending resolution of certain identified contingent liabilities within Anglia. Consequent on the sale of Anglia, Andrew Smith retires from the board of TTG.His contribution has been much valued and the board wishes him every success inthe future. For further information please contact: TTG +44 207 7681 6389Julian Synett Buchanan Communications +44 207 466 5000Tim Anderson/Ben Willey This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Eckoh Technologies