Ensor Holdings PLC Disposal of OSA Door Parts Limited
July 12 2016 - 3:49AM
UK Regulatory
TIDMESR
12 July 2016
Ensor Holdings PLC ('Ensor' or the 'Company')
Disposal of OSA Door Parts Limited ('OSA')
Ensor is pleased to announce the sale of the entire issued share capital of OSA
Door Parts Limited to Argent Industrial Limited for consideration of GBP
2,500,000.
The consideration is payable in cash on completion. In addition, net cash of GBP
520,000 has been retained by Ensor. The value of assets disposed of is
approximately GBP879,000.
In the year to 31 March 2016, OSA, a manufacturer and distributor of industrial
doors and components, recorded turnover of GBP4,074,000 and an operating profit
of GBP474,000 before group charges.
The sale of OSA represents a significant element of a process to dispose of all
of the Company's activities and return capital to shareholders. No distribution
is proposed at present, pending the outcome of negotiations for the sale of the
remaining businesses and assets.
Further announcements will be made in due course including the reporting of
preliminary results for the year ended 31 March 2016, which is expected to be
during the week commencing 18 July 2016.
Enquiries:
Ensor Holdings PLC: Roger Harrison / Marcus Chadwick - 0161 945 5953
Stockdale Securities Ltd: Robert Finlay / Rose Ramsden - 020 7601 6100
END
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