Electric Word PLC Disposal of Radcliffe Solutions Limited (3920D)

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RNS Number : 3920D

Electric Word PLC

28 January 2015

Wednesday 28 January, 2015

Electric Word Plc (the "Company")

Disposal of Radcliffe Solutions Limited

The Directors of Electric Word plc are pleased to announce the sale of the Company's subsidiary, Radcliffe Solutions Limited ("RSL") to Clarity Informatics Group Limited for a consideration of GBP125,000 less working capital adjustments, payable in cash on completion. The sales proceeds will be used to fund investment plans in other areas of the business.

The principal activity of RSL is IT consultancy, software development and licensing of niche software products, primarily to the public sector. In the year ended 30 November 2013, RSL made a loss after tax of GBP241,880 on turnover of GBP462,275. The Directors deem this entity to be non-core to the Group's future strategy.

For further enquiries please contact:

   Julian Turner, Chief Executive, Electric Word                    020 7954 3470 
   Andrew Potts, Panmure Gordon                                        020 7886 2500

Notes to Editors

Electric Word plc is a specialist media group supporting professional education, compliance and management through a wide range of digital, paper and live formats. Our approach is to identify niche communities within our market sectors and fulfil their key information, professional development, best practice and compliance needs.

Increasingly, our aim is to provide higher-value services and decision-critical data that help our customers to achieve their key personal and organisational objectives. We achieve this by developing a deep understanding of our sectors and our customers' challenges and critical information requirements.

The Group provides content in many different formats, including subscription websites, journals, magazines, events, face-to-face training, online training, books, special reports, bespoke research and consultancy. Competencies developed in one sector can then be transferred to another as opportunities arise.

This information is provided by RNS

The company news service from the London Stock Exchange

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