Watchstone sells PT Healthcare Solutions for initial $36.2m


Technology group Watchstone said Canadian subsidiary Quindell Services had agreed to sell subsidiary PT Healthcare Solutions for an initial sum of $36.2m (£22.3m) to LM Holdings.

Quindell Services would be due a further up to C$0.8m (£0.5m), conditional on the business generating target revenues in the first year after its acquisition.

Sale proceeds would be kept on deposit and managed prudently until a distribution to shareholders could be effected,' Watchstone said.

'As previously announced, no distribution of capital will be made to shareholders of Watchstone until the Slater & Gordon litigation has been resolved,' it added.

At 9:34am: (LON:WTG) Watchstone Group Plc share price was +7.85p at 100.85p

Related content

Watchstone swings to profit after healthcare asset sale

Technology company Watchstone swung to a full-year profit after it booked a gain on the sale of its healthcare services business.

Watchstone said its...

Wed, 13/05/2020 - 09:34

Watchstone says won't be prosecuted from SFO probe

Technology company Watchstone said it had been informed by the UK's Serious Fraud Office that it would not be prosecuted for criminal offences.

The company...

Tue, 28/04/2020 - 09:04

Watchstone plans capital return of at least £50m

Business technology group Watchstone said it intended to return at least £50m to shareholders following the sale of its Canadian assets and a court decision....

Mon, 10/02/2020 - 07:48

Watchstone completes sale of Canadian assets to LM

Technology company Watchstone said its Canadian subsidiary had completed the sale of PT Healthcare Solutions to LM.

Watchstone had agreed last September to sell the...

Fri, 07/02/2020 - 07:26

Watchstone gets final consent for Canadian asset sale to LM

Watchstone said Canadian unit Quindell Services had received final change of control consent to sell subsidiary PT Healthcare Solutions to LM Holdings.

Completion of the...

Mon, 03/02/2020 - 07:47