K3 Business Technology proposes sale of NexSys Solutions arm.
K3 Business Technology has proposed the sale of its NexSys Solutions unit to Advent-backed software firm SYSPRO for £36.0m.
K3 Business Technology Group
02 December 2024 11:08:23
Source: Sharecast
The proposed cash deal would value NexSys at a considerable 28.8% premium to K3's pre-announcement market capitalisation of 28.0m.
K3 expects to receive net proceeds of £34.4m from the sale, the bulk of which will be returned to shareholders in H125, while the remainder will be used to fund working capital and restructuring costs.
The AIM-listed group added that following completion of the disposal, it expects the remaining group to become month-on-month cash break even, after full allocation of central overhead, during Q125.
As of 1105 GMT, K3 shares had surged 36.96% to 85.60p.
Reporting by Iain Gilbert at Sharecast.com
N/A
ISIN:
N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
