Completion of disposal
01 Februar 2010 - 8:00AM
UK Regulatory
TIDMIQH
RNS Number : 4118G
IQ Holdings plc
01 February 2010
01 February 2010
IQ Holdings plc
("IQH" or the "Company")
COMPLETION OF THE DISPOSAL OF ROSSLYN AND VIEWPOINT
Further to the announcement on the 24 December 2009, the Board of IQ Holdings
plc announces that all conditions have been satisfied and that the disposal of
Rosslyn Research Limited ("Rosslyn") and Viewpoint Field Services Limited
("Viewpoint") to Rivington Street Holdings plc ("RSH") has today been completed.
Julian Green, Neil McGowan, Joe Seydel and Gale Blears have today resigned as
Directors of IQH.
As detailed in the Circular and announcement dated 24 December 2009, the final
amount of consideration payable to IQH (in RSH shares) is dependent on a
creditors' statement to be produced within 20 business days from the date of
completion. A further announcement will be made once the consideration has been
finalised and the consideration shares have been issued.
In addition, as detailed in the Circular, IQH has undertaken as soon as
practicable to apply to the Court for a confirmation of the proposed
cancellation of the capital redemption reserve, share premium account and
reduction of share capital to allow the Company to distribute the majority of
the RSH shares to IQH Shareholders. A further announcement regarding timetable
will be made in due course.
--END--
For further information, please contact:
+-------------------------------------------------------+-----------------------------------+
| IQ Holdings plc | |
+-------------------------------------------------------+-----------------------------------+
| John Mitchel | Tel: +44 (0)20 8099 0560 |
+-------------------------------------------------------+-----------------------------------+
+-------------------------------------------------------+-----------------------------------+
| Nominated Adviser: | |
| Grant Thornton Corporate Finance | |
+-------------------------------------------------------+-----------------------------------+
| Gerry Beaney | Tel: +44 (0) 20 7383 5100 |
+-------------------------------------------------------+-----------------------------------+
+-------------------------------------------------------+------------------------------------+
| Nominated Broker: | |
| Rivington Street Corporate Finance | |
+-------------------------------------------------------+------------------------------------+
| Dru Edmonstone | Tel: +44 (0)20 7562 3389 |
+-------------------------------------------------------+------------------------------------+
+-------------------------------------------------------+------------------------------------+
| Financial PR: | |
| Bishopsgate Communications | |
+-------------------------------------------------------+------------------------------------+
| Robyn Samuelson / Gemma O'Hara | Tel: +44 (0) 20 7562 3350 |
+-------------------------------------------------------+------------------------------------+
For details of the transaction please see the Company's announcement made on 24
December 2009. For the full Circular, please visit the Company's website at
www.iqholdings.co.uk.
Unless otherwise defined in this announcement, capitalised words and phrases
used in this announcement shall have the same meanings given to them in the
Circular dated 24 December 2009.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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