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( COLG or the Company )
Disposal of Acorn to Oaks Financial Services
The Board of COLG (AIM:CIN) is pleased to announce that it has agreed terms to sell Acorn to Oaks Financial Services ( A2O ) to Jason Oakley and his wife Claire Oakley (the Buyers ) for net consideration of £1.15 million (the Disposal ).
A2O is a financial services intermediary business focusing on SME and landlord insurance products. It was acquired by COLG in July 2018, to complement the Company s operations. COLG acquired 100% of the shares of A20 from Jason Oakley, his wife Claire Oakley, a vehicle controlled by Mr and Mrs Oakley, and other minority shareholders. The Company has decided to focus on its SME banking subsidiary Recognise Bank Limited ( Recognise ). The capital created by the Disposal will be deployed within Recognise ....

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