IBS was a sub-division within the Business Solutions
division, operated within Maxima Information Group
Limited, a wholly owned subsidiary of the Maxima
Holdings Plc Group (the "Group"), and
specialises in the maintenance of ERP solutions to
manufacturing companies. The working capital of the
sub-division at completion will accrue to the Group,
including monies paid in advance for annual contracts,
estimated at £0.5 million. There is also provision in
the sale agreement for a refund of up to £0.2 million
should Maxima Information Group Limited cease to be a
wholly owned subsidiary of the Company.
The IBS sub-division employed 10 employees, located
principally in the North West of England. For the
financial year ended 31 May 2011, it reported revenue
of £1.7m and segmental adjusted EBITA (pre-exceptional
costs, share based payments and amortisation) of
£0.6m. Its net asset value in the Group's
accounts at 31 May 2011 was £1.3m. The financial impact
of the sale on the Group will be finalised and reported
in the Group's half year results announcement
expected in February 2012 and the cash received will be
used to repay part of the Company's banking
facilities.
For further information please contact:
Maxima Holdings plc
David Memory, Chief Financial Officer
Tel: +44 (0)1242 211 211
Ian Smith, Executive Chairman
Tel: +44 (0)1242 211 211
Cenkos (Nominated advisor to the Company)
Stephen Keys/Adrian Hargrave
Tel: +44 (0)20 7397 8900
MHP (PR)
Reg Hoare / James White / Vicky Watkins
Tel: +44 (0)20 3128 8100
Notes to Editors:
Maxima (AIM:MXM) is a leading provider of IT business
systems and managed services, helping over 1,000
organisations across the UK, Ireland and the USA to
increase their productivity, reduce their business
costs and streamline their processes. The company's
Business Solutions and Managed Services, Infrastructure
and Applications (MSIA) operations support all aspects
of cloud computing delivery, including Infrastructure
as a Service, Platform as a Service and Software as a
Service capabilities. Core Maxima solutions and
services include virtualisation, web connectivity,
infrastructure management, IT managed services
provision, business intelligence, and comprehensive
Microsoft Dynamics AX ERP and CRM business solutions.
For more information, please visit www.maxima.co.uk.
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