6th Mar 2006 16:50
Huntsworth PLC06 March 2006 HUNTSWORTH PLC 6 March 2006 Disposal of nxtMOVE Huntsworth PLC ("Huntsworth"), the international public relations group,announces today that it has disposed of the business and assets of nxtMOVE LLC("nxtMOVE"), formerly trading as Citigate Global Intelligence for $1.55millionto Optimisa PLC. The total consideration of $1.55million (including net tangible assets of$550,000) has been paid in cash. The sale proceeds will be used to reduce debt. nxtMOVE is based in Reston, Virginia, USA and has a core offering in businessintelligence and commercial due diligence. In the year ended 28 February 2005 nxtMOVE had revenue of $3.53million andprofit before tax of $258,000. At 28 February 2005 nxtMOVE had gross assets of$1.0m. The effect of the disposal on Huntsworth is not expected to be material. Lord Chadlington, Chief Executive of Huntsworth said "The disposal of nxtMOVEcontinues Huntsworth's strategy to sell non-core subsidiaries leaving the Groupfree rigorously to follow our focused international strategy". Enquiries: Lord Chadlington, Chief Executive, Huntsworth PLC (020) 7408 2232Roger Selman, Finance Director, Huntsworth PLC (020) 7408 2232 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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