MACC Macromac

TIDMMACC

RNS Number : 0938W

Macromac PLC

04 November 2014

Macromac plc

("Macromac", "the Company" or "the Group")

Disposal of Search Engine Optimisation (SEO) business

The Board of Macromac (AIM: MACC) announces that Macromac Webtech Sdn Bhd ("MWSB"), one of the Company's wholly owned Malaysian operating subsidiaries, entered into an agreement on 3 November 2014 to dispose of MWSB's SEO and web development services business for a cash consideration of RM60,000 to Lotus-T Online Sdn Bhd (the "Disposal"). Lotus-T Online Sdn Bhd is a Malaysian-based company involved in the provision of web development, web hosting and related services.

The Disposal has been undertaken to further streamline the business of the Group to concentrate on its higher profit margin generating businesses.

Under the terms of the agreement, RM15,000 has been paid to Macromac upon the signing of the agreement while the remainder will be paid in equal monthly instalments over the period of 3 months from the signing of the agreement with the final instalment due on 31 January 2015.

Net proceeds expected from the disposal of this business are RM60,000, while the gain on the Disposal is expected to be RM80,000, assuming the full realisation of approximately RM105,000 of deferred income.

Taking into consideration the current operating conditions and the prospects of the business, the Board is of the view that the total cash consideration to be received is fair and reasonable and the Disposal to be in the best interests of the Company.

The SEO business currently has 7 employees whom will be re-assigned within the Group.

For further information please visit www.macromacgroup.com or contact:

Macromac PLC +603 7785 9488

Michael Lew, Executive President

Andrew Khoo, Chief Executive Officer

KC Chong, Finance Director

Allenby Capital Limited (Nominated Adviser and Broker) +44 (0)20 3328 5656

Nick Athanas

James Reeve

Leander (Financial PR) +44 (0)7795 168 157

Christian Taylor-Wilkinson

About Macromac

Macromac is a group of companies headquartered in Malaysia comprising two divisions. The Company aims to deliver mobile content and web-based marketing solutions to its customers across South East Asia. Through its proprietary MMP, the Company provides Premium and Bulk Mobile Messaging solutions for corporate and advertising campaigns, allowing its clients to better reach their customers by delivering targeted mobile messaging. The Company also develops project-based customised software solutions for its SME clients.

This information is provided by RNS

The company news service from the London Stock Exchange

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