Watchstone has this morning announced the proposed disposal of its last remaining operating business, ingenie, to A-Plan Group. The initial cash consideration payable upon completion is reported to stand at £3.0m, with up to a further £2.5m due, dependent upon the 2021 financial performance. Watchstone will also retain its subsidiary ISL, which is seeking repayment of overpaid VAT of in excess of £2m from HMRC. As a result of the size of the ingenie business relative to the overall company, the ....
12 Oct 2020
WHI First Light: Watchstone (WTG) - Proposed disposal of ingenie
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WHI First Light: Watchstone (WTG) - Proposed disposal of ingenie
Watchstone Group plc (WTG:PLU) | 8.5 0 0.0% | Mkt Cap: 3.89m
- Published:
12 Oct 2020 -
Author:
John Cummins -
Pages:
4
Watchstone has this morning announced the proposed disposal of its last remaining operating business, ingenie, to A-Plan Group. The initial cash consideration payable upon completion is reported to stand at £3.0m, with up to a further £2.5m due, dependent upon the 2021 financial performance. Watchstone will also retain its subsidiary ISL, which is seeking repayment of overpaid VAT of in excess of £2m from HMRC. As a result of the size of the ingenie business relative to the overall company, the ....