Published: 5 November 2018
('Idox' or the 'Group' or the 'Company')
Disposal of Digital division
Idox plc (AIM: IDOX), a leading supplier of specialist information management solutions and services, announces the sale of its digital division ("Digital") to Fat Media Limited, a digital marketing solution provider, for a nominal cash consideration of £1.00.
The Digital division is focused on providing digital consultancy services to private sector clients and for the year ended 31 October 2017 recorded a loss before tax of £3.2 million. As at 30 September 2018 the Digital division has gross assets of £0.9 million and a net liabilities position of £0.02 million (unaudited).
This disposal allows for additional focus on the Group's core operations and further improvements in its operating model.
The Group expects to issue a trading update for its financial year ended 31 October during November.
Idox plc +44 (0) 870 333 7101
David Meaden, Chief Executive
Rob Grubb, Chief Financial Officer
N+1 Singer (NOMAD and Broker) +44 (0) 20 7496 3000
MHP (Financial PR) +44 (0) 20 3128 8100
About Idox plc
For more information see www.idoxplc.com @Idoxgroup
Updated: 5 November 2018