Disposal
June 04 2008 - 3:06AM
UK Regulatory
Citel PLC
("Citel" or the "Company")
Sale of Assets and Directorate Change
The Board of Citel is pleased to announce that, following the EGM held on 30 May
2008, the transaction to sell the business and certain assets, comprising
substantially all the assets underlying the Company's trading operations, to
Tortel USA, LLC has now completed. The consideration of US$2,300,000 has been
adjusted upward by US$300,000, as expected, due to the finalization of Inventory
amounts as mentioned in the announcement on 02 May 2008 and thus the final
consideration is US$2,600,000.
As a result of the closing of the transaction Citel annnounces that
non-executive directors Stewart Davies and John Cunningham resigned from their
positions on 03 May 2008.
Enquiries:
Citel Jose David, CEO 001 206 965 8925
Ls 2x Citi (LSE:CITE)
Historical Stock Chart
From Oct 2024 to Nov 2024
Ls 2x Citi (LSE:CITE)
Historical Stock Chart
From Nov 2023 to Nov 2024