26th Jun 2006 12:42
Millfield Group PLC26 June 2006 Millfield Group plc (the "Company") Sale of businesses The Directors of Millfield Group plc announce that binding heads of agreementhave been exchanged under which an option will be granted entitling the Companyto require the Money Portal Plc to purchase the assets of MPL and the issuedshare capital of Sage Financial Services Limited for an aggregate considerationof approximately £10.6 million of which £3.4 million is payable over the 12months following completion, dependent upon certain performance milestones. It is anticipated that administrators will be appointed of the Company and anumber of its subsidiaries tomorrow. Completion of the sale will requireapproval by the Financial Services Authority. Contacts:Millfield Group PlcAlan Easter 020 8604 2600 Financial DynamicsLouise Dolan / Andrew Waterworth 020 7269 7192 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MIL.L