NXS Nexus Man

 
TIDMNXS 
 
7 September 2010 
 
                             NEXUS MANAGEMENT PLC 
 
                          ("Nexus" or the "Company") 
 
  Nexus raises $320,000 through the sale of its Nerd Force Franchise Company 
                     and certain North American franchises 
 
Nexus Management plc, the AIM quoted provider of specialist IT Managed 
Services, is pleased to announce that it has reached an agreement with a 
consortium, comprising Boris Adlam, Ilir Sela and certain other investors ("the 
Purchasers") regarding the sale of the Nerd Force Franchise Company and certain 
North American franchises, trademarks, licences and contracts ("Nerd Force"), 
for a total consideration of $320,000, comprising of $260,000 in cash and the 
balance ($60,000) as to the forgiveness of certain amounts due to Mr Adlam and 
Mr Sela. 
 
In addition, and forming a critical part of the negotiations, the Purchasers 
have entered into a contract with Nexus, under which they have agreed that the 
existing and any new North American franchises will sell, on an exclusive basis 
(except for limited circumstances in the last five years of the agreement), 
Nexus Managed Services for a period of 10 years. 
 
The proceeds of the sale will be used to accelerate sales and marketing 
initiatives for the profitable core businesses and for working capital 
generally. 
 
The consortium has also been granted an option, which is capable of being 
exercised before the first anniversary of the sale, to acquire the licences to 
operate Nerd Force in the other territories held by the Company for a further 
consideration of up to $180,000. 
 
The Company will retain the existing franchises, situated in Maine, London and 
South East England, and will continue, jointly with Nerd Force, to market the 
franchises internationally. 
 
Commenting on the sale, Roger Richardson, Nexus' Chief Executive, said 
 
"Nerd Force was originally acquired in a more stable economic climate and as a 
strategic fit with our investment in PD Financial. The difficulties at PD 
Financial and the tough economic environment meant that Nerd Force failed to 
deliver the expected contribution to earnings and, in-turn, positive cashflow 
to enhance our balance sheet. It is therefore seen as a non-core part of the 
business and its disposal will add cash to the balance sheet and allows 
management to focus on its stated aim of increasing profitability and 
generating shareholder value across the other parts of the Company. 
 
"We will however be maintaining a strong marketing arrangement with Nerd Force 
which will allow the companies to collaborate on the sale of managed services 
through the Nerd Force franchise network. Our belief is that Nerd Force, with a 
highly motivated owner-manager team, will be able to up sell core Nexus 
services to a greater extent than we have experienced to date. 
 
"I am very confident that the new owners, with significant new investment, will 
be able to make a success of the Nerd Force business in North America, and we 
are confident that the ongoing managed services agreement will have a positive 
effect on Nexus. 
 
"The Board of Nexus wishes the new owners every success." 
 
                                     -END- 
 
Enquiries: 
 
Nexus Management Plc                                     Tel: 01862 812 107 
Roger Richardson, Chief Executive 
 
Merchant Securities Limited (NOMAD)                      Tel: 020 7628 2200 
Simon Clements 
David Worlidge 
 
Daniel Stewart & Company plc (Broker)                    Tel: 020 7776 6550 
Christopher Theis 
 
Bishopsgate Communications Ltd                           Tel: 020 7562 3350 
Gemma O'Hara / Siobhra Murphy 
nexus@bishopsgatecommunications.com 
 
 
About Nexus Management plc 
 
Nexus Management is a specialist IT Managed Services and network security 
provider. Nexus has two key markets: Europe and the US, where it can offer its 
customers 24 hour support 7 days a week. Nexus specialises in all aspects of IT 
for small to medium sized companies with services such as Remote Server 
Management, Disaster Recovery, Secure Data Storage, Help-Desk, Desktop Support 
and Wide Area Network Management and Monitoring - providing Enterprise calibre 
technical support. We also through our Resilience subsidiary offer the largest 
companies in the world superior appliances to run their network security 
software. 
 
Nexus is quoted on AIM, a market of the London Stock Exchange. For further 
information on the Company, please visit www.nexusmgmt.com 
 
 
 
END 
 

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