Touchstar agrees to sell On-board Retail unit to director Jon Hall

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Logistics and transport sector technology group Touchstar said it had agreed to sell non-core business On-board Retail to Jon Hall, a current director of the company.

The asset had been sold for £10k payable in cash on completion, plus 15% of the gross revenue of certain contracts between completion and the second anniversary of completion.

Touchstar said it would also retain deferred income received in respect of certain On-board contracts amounting to £7k.

Hall would stand down as a director of the company, with immediate effect.

On-board business previously sold and maintained software that facilitated the sales of in-flight duty-free, catering and ancillary products.

Its value was fully written off in the company's accounts for the year ended 31 December 2018.


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