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Company Sigma Capital Group PLC
TIDM SGM
Headline

Disposal of shareholding in Frontier IP etc

Released 07:00 24-Dec-2013
Number 2859W07

RNS Number : 2859W
Sigma Capital Group PLC
24 December 2013
 



 

 

 

 

 

AIM: SGM

 

 

 

Sigma Capital Group plc

("Sigma" or "the Group")

 

Disposal of Holding in Frontier IP Group Plc

and

Transfer of Fund Management Contracts

 

Sigma, the residential and urban regeneration specialist, is pleased to announce that, following the Placing announced yesterday, it has completed a further two transactions, which leave the Group better positioned and wholly focused on its property-related activities. These transactions are detailed below.

 

Sale of balance of shareholding in Frontier IP Group Plc

 

Sigma is pleased to report that on 20 December 2013 it sold the balance of its shareholding in Frontier IP Group Plc, 600,000 ordinary shares of 10p each. This has generated net proceeds of £120,000 and a profit of £60,000.

 

Transfer of Fund Management Contracts

 

In line with Sigma's stated objective of withdrawing from its venture capital fund management activities, we are also pleased to report today that we transferred the management of three of our venture capital funds to Shackleton Ventures Limited together with the business advisory contracts of certain of the investee companies.  Sigma continues to be a limited partner in the funds which have been transferred and so retains its investment in those funds.

 

 

Graham Barnet, chief executive of Sigma, commented,

 

"The disposal of our remaining shareholding in Frontier IP and the transfer of three of our venture capital funds help towards completion of the process of refocusing the Group entirely on our property activities."

 

 

Enquiries

 

Company website: www.sigmacapital.co.uk

 

Sigma Capital Group plc

Graham Barnet, Chief Executive

T: 0131 220 9444


Marilyn Cole, Finance Director





Biddicks

Katie Tzouliadis/ Deborah Walter

T: 020 3178 6378




N+1 Singer

James Maxwell/ Nick Donovan

T: 0207 496 3000

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Disposal of shareholding in Frontier IP etc - RNS