1st Aug 2005 13:00
Eckoh Technologies PLC01 August 2005 For Immediate Release 1 August 2005 Eckoh Technologies PLC Disposal of internet services business Freecom Eckoh Technologies plc ('Eckoh'), one of Europe's leading speech applicationservice providers, today announces the disposal of Freecom.net Limited('Freecom'), its internet services company, to eDirectory.co.uk plc. The initialconsideration of £1.6m is satisfied by the issue of 4,155,844 eDirectoryordinary shares with up to an additional £1.6m of deferred consideration.eDirectory shares are currently traded on Ofex. eDirectory.co.uk plc, is an independent aggregator and distributor of onlineshopping content, and supplier of e-commerce services to UK retailers. Freecom was a subsidiary business of the Intelliplus Group acquired by Eckoh inSeptember 2003. Freecom generated revenues of £3.2 million, and profit beforetaxation of £0.04 million in the year ended 31 March 2005. Commenting on the sale, Martin Turner, Chief Executive Officer of Eckoh said "The sale of Freecom to e-Directory represents the first step in our strategicplan to simplify the Eckoh's structure, dispose of non-core assets and unlockvalue for our shareholders. The Board has been considering a number of optionsfor Freecom for some time, and we believe this transaction to be in the bestinterests of the Freecom business, its management team and Eckoh shareholders." For further enquiries, please contact: Eckoh Technologies plc Martin Turner, Chief Executive Officer Tel: 08701 100 700Nik Philpot, Chief Operating Officer Buchanan Communications Tel: 020 7466 5000Jeremy Garcia/Mark Edwards This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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