News
Universe Group PLC - Disposal
Monday 26th July 2010
Universe (AIM:UNG.L) announces that it has sold JetSet for a consideration of approximately £0.4 million to be satisfied in cash.
In the year ended 31 December 2009, JetSet, which is a provider of vehicle washing technology and ancillary forecourt equipment, reported sales of approximately £1.933 million and operating losses of approximately £0.241 million and as at 31 December 2009, its net assets represented £0.576 million of the Group's total net assets of £13.536 million.
Universe intends to use the net proceeds from the sale of JetSet to reduce the Company's overall levels of debt.
For further information, please contact:
Universe PLC - John Scholes, Chairman or Paul Cooper, Chief Executive T: 02380 689 510
Arbuthnot Securities (Nominated Advisor) - Tom Griffiths T: 02070 122 000
Tavistock Communications - John West or Andrew Dunn T: 02079 203 150
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