12 July
2016
Ensor Holdings PLC
(‘Ensor’ or the ‘Company’)
Disposal of OSA
Door Parts Limited (‘OSA’)
Ensor is pleased to announce the sale of the entire issued share
capital of OSA Door Parts Limited to Argent Industrial Limited for
consideration of £2,500,000.
The consideration is payable in cash on completion. In addition,
net cash of £520,000 has been retained by Ensor. The value of
assets disposed of is approximately £879,000.
In the year to 31 March 2016, OSA,
a manufacturer and distributor of industrial doors and components,
recorded turnover of £4,074,000 and an operating profit of £474,000
before group charges.
The sale of OSA represents a significant element of a process to
dispose of all of the Company’s activities and return capital to
shareholders. No distribution is proposed at present, pending the
outcome of negotiations for the sale of the remaining businesses
and assets.
Further announcements will be made in due course including the
reporting of preliminary results for the year ended 31 March 2016, which is expected to be during the
week commencing 18 July 2016.
Enquiries:
Ensor Holdings PLC: Roger
Harrison / Marcus Chadwick -
0161 945 5953
Stockdale Securities Ltd: Robert
Finlay / Rose Ramsden - 020
7601 6100