Investor news

Sagentia Group plc

(“Sagentia” or the “Group”) 

Disposal of Investment and Trading Update

At the end of 2010, the Board reviewed the carrying value of all of the Group’s legacy investments. At 30 June 2011, Sagentia had just one remaining minority investment to which it attributed any value, being Sphere Medical Holdings Limited, (“Sphere”) with a balance sheet carrying value of £800,000.

Sphere successfully completed an initial public offering onto the AIM market in November 2011 and the Board is pleased to advise that subsequent to that listing Sagentia has disposed of its entire holding in Sphere. This disposal is in accordance with the Board’s defined strategy of realising its legacy investment portfolio.

The disposal of the Sphere shareholding realised approximately £703,000 after transaction costs and the cash balance of the Group will increase accordingly. Following this disposal, the Board now anticipate gross cash at the end of the year to exceed £20 million.
 
The disposal of the Sphere shareholding will result in a non-cash charge of approximately £97,000 in the current year. However, due to a modestly stronger than anticipated performance, the Board anticipates that profit for the year will be slightly ahead of current expectations..

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For further information
Sagentia Group plc
Martyn Ratcliffe, Chairman
Brent Hudson, Chief Executive 
Neil Elton, Finance Director
Tel: +44 (0) 1223 875 200

Numis Securities Limited
Nominated Adviser: Oliver Cardigan / Simon Willis
Corporate Broking: James Serjeant
Tel: +44 (0) 20 7260 1000

Media enquiries
Abchurch
Henry Harrison-Topham / Jamie Hooper
Tel: +44 (0) 20 7398 7702 
henry.ht@abchurch-group.com

www.abchurch-group.com