Pulsar Group sells most of its Trailight stake.

Pulsar Group announced the sale of most of its 21% stake in TrackRecord Holdings, the parent company of compliance management firm Trailight, for £1.4m in cash on Monday.

Pulsar Group
02 December 2024 12:09:28

Source: Sharecast

The AIM-traded firm said that following the transaction, Pulsar retained a 1% shareholding in TrackRecord.

It said the disposal was expected to yield a profit of £1.2 million, reflecting a significant uplift on the stake's carrying value of about £0.16m as of 31 May.

For the year ended 30 November, the minority interest generated a loss of £0.2m on Pulsar's income statement.

“We are delighted to crystallise the value of our minority shareholding in Trailight with the proceeds of the transaction being used in the group's strategy of capitalising on the market opportunity and enhancing the profitability and cash generation of the company,” said non-executive chairman Christopher Satterthwaite.

At 1001 GMT, shares in Pulsar Group were down 3.39% at 57p.

Reporting by Josh White for 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.

View our accounts

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.