K3 Business Technology’s results to November 2024 are eclipsed by the January completion of the disposal of NexSys. The £36m disposal will lead to a return of cash to shareholders via tender offer and of a quantum not yet confirmed, subject to court approval of the reorganisation of the balance sheet. Forecasts for continuing operations lead to a comfortable target price of c125p, after the return of cash which – if assumed at £20-30m – equates to 45-67p per share. Post tender offer, continuing ....
