15th Nov 2007 07:02
Impact Holdings (UK) PLC15 November 2007 Impact Holdings (UK) plc "Impact" or "the Company" Trading Update Provisioning: Impact is pleased to confirm that it has purchased the loans administrationplatform known as "Lawyer" from Allied Loan Services Limited (ALS). As part ofthis transaction, Impact has agreed to capitalise a proportion of ALS'outstanding debt and work on a collaborative and incentivised basis to maximisereturns on the Right-to-Buy exposure previously provisioned against. Impact willlease back to ALS on an exclusive basis the licence to operate this system. Impact, in conjunction with ALS, will further develop the functionality of thesystem and, together with the ownership of the "Veracity" platform, will nowcontrol two of the major IT platforms in the solicitor lending market place. Impact expects to make further positive announcements in relation to recoveriesover the next few months, and will continue to keep the market appraised of anyfurther realisations of debts that have been provided against. - Ends - For further enquiries: Impact Holdings (UK) plc Tel: 0161 437 9499Paul Davies, Chief ExecutiveChristopher Williams, Finance Director Daniel Stewart & Company plc Tel: 020 7776 6550Alastair Cade This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
IHUK.L