1st Mar 2005 07:01
Kingston Communications(Hull)PLC01 March 2005 1 March 2005 KINGSTON COMMUNICATIONS (HULL) PLC (KCOM.L) DISPOSAL OF PRES SRL Kingston Communications (HULL) PLC ("Kingston") today announces the disposal ofPRES SRL ("PRES"), the Italian operation of the Omnetica Group ("Omnetica")acquired by Kingston on 31 December 2004, to the management of PRES. Kingston will receive a nominal consideration together with the repayment ofEuros 4 million inter-company debt at closing. Commenting on the disposal, Malcolm Fallen, Chief Executive, said: "The Italianbusiness represents a very small part of Omnetica and was never central to thestrategy which underpinned our acquisition. We believe the PRES management teamis best placed to give the business the focus it needs over the coming years." Ends For further information, please contact: Kingston Communications (HULL) PLCGroup Director of Communications Tel: 01482 602666Anita Pace Mobile: 07770 744322 The Maitland Consultancy Colin Browne Tel: 020 7379 5151 Mobile: 07733 103800 Note to Editors About Kingston Communications Kingston Communications is a leading provider of communications solutions,providing a wide range of voice, data, internet and contact centre services tobusinesses and public sector organisations throughout the UK. Kingston is a converged communications company with expertise and experience inboth telecommunications and enterprise networking, supported by its own 2200kmbroadband network. As such, it is ideally positioned to meet the infrastructure,equipment and connectivity requirements of modern organisations, for whomcommunications is a strategic consideration. Kingston's national capabilities have been built on its strong foundationswithin East Yorkshire, where the company has been providing leading edgeservices to residential and business customers for over 100 years and where ithas been a pioneer in the use of ADSL technology. In December 2004 Kingston acquired 100% of the shares of Omnetica Holdings Ltd,specialists in the provision of converged IP networks. The Kingston Group also includes Eclipse Internet, an established and growingbroadband ISP that delivers internet connectivity and services to businesses andconsumers throughout the UK. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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