Mon, 8th Mar 2021 08:23
(Alliance News) - Equiniti Group on Monday said it has agreed to sell the EQi direct-to-consumer business of Equiniti Financial Services to interactive investor for GBP48.5 million.
Equiniti said the sale of the business to ii, already one of the largest share trading platforms in the UK, is expected be completed by the summer. It will receive GBP47.5 million in cash on completion and up to a further GBP1.0 million contingent on the timing of migrating customers onto the ii platform.
Equiniti said it will use the money to reduce debt, with interest costs expected to be reduce by GBP400,000 as a result. It will book a GBP13.0 million accounting profit on the deal and pay GBP2.1 million in corporation tax.
LONDON BRIEFING: ii buys share trading platform from Equiniti
lse.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lse.co.uk Daily Mail and Mail on Sunday newspapers.
Rolls-Royce Holdings PLC, Just Eat Takeaway, ITV, insurers and inflation in focus for coming week
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TRADING UPDATES: 1Spatial expects full-year results ahead of forecasts
Mon, 1st Mar 2021 15:34
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
1Spatial PLC - Cambridge-based location data software provider - Expects to report solid progress in financial year ended January 31, with results ahead of current market expectations due to a robust performance in the second half of the year. Says revenue for the year expected to be in excess of GBP24 million - versus GBP23.4 million in the 2020 financial year - with adjusted earnings before interest, taxes, depreciation and amortisation to be in excess of the GBP3.2 million posted for the 2020 year. The board is confident that the group s progress over the last year is set to continue in the coming year. Nevertheless, the board remains cautious in managing potential risks resulting from the Covid-19 pandemic, 1Spatial says.