Trading Statement
21 November 2003 - 2:45PM
UK Regulatory
RNS Number:3619S
Bright Futures Group PLC
21 November 2003
Bright Futures Group PLC ("Bright Futures" or the "Company")
Trading Update: Sale of non-core joint venture business
Bright Futures today announces that it has completed the sale of its 49%
shareholding in its joint venture route2mobility (r2m) to Enabling Partnership
Trading Limited, its joint venture partner. r2m operates the Motability scheme
for electric scooters and powered wheelchairs and was established in May 2003.
Since the announcement on 10 September 2003 of the Bright Futures store opening
programme, the company has conducted a review of its retail strategy and trading
assets. Following this review, the Company believes that the sale of its holding
in r2m, a non-core financing business, will free up additional resources to
enable it to concentrate on the core retail store opening programme. The sale
was completed for a consideration of #150,000 payable immediately.
Contact Details:
Stephen Harpin
Chief Executive
Bright Futures Group PLC
21 Planetary Road
Wolverhampton
WV13 3XA
Notes:
1. r2m is a finance company which operates the scooter and power wheelchair
scheme on behalf of Motability.
2. The Enabling Partnership is a charity that focuses on the needs of
disabled people. The charity offers residential, employment and training for
disabled people at its centre in Andover, Hampshire. NFSUK and its member
Shopmobility scheme provide advice, information and expertise on the
accessibility of town and shopping centres throughout the UK, attempting to
ensure that the needs of disabled members are heard and met.
3. Bright Futures Group plc is the holding company for The Mobility Group,
Scootermart and Youreable.com. They are a leading retailer of age and disability
equipment.
This information is provided by RNS
The company news service from the London Stock Exchange
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