This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public
domain.
4
October 2024
Sorted Group Holdings
Plc
("Sorted"
or the "Company" or the "Group")
Disposal of Returns
business
Sorted Group Holdings Plc (AIM:
SORT), a leading provider of delivery experience and post-purchase
technology, announces the disposal to ZigZag Global Limited of the
business and intellectual property (including the software, systems
and content assets) used to operate and deliver the Group's
"Returns" business used by small to medium fashion apparel
retailers, charities and educational institutions (the
"Disposal").
The consideration to be received by
Sorted for the Disposal is £775,000 in cash, 25% of which will be
received immediately with the balance to be received in
approximately 30 days. The cash will be used to settle the Clicksit APP Limited
liabilities of about £1.4m including accumulated losses and
transaction costs.
The gross assets the subject of the
Disposal as at 31 December 2023 were approximately £247,000 and
generated a profit before tax in the 15 months ended 31 December
2023 of approximately £64,000.
The Disposal will allow Sorted to
focus on the innovation and growth of "Ship", its flagship carrier
management system, and "Track", its post-purchase experience
solution.
For further information please
contact:
Sorted Group Holdings Plc
Tel: +44 (0)3300 555 284
Simon Wilkinson, Chairman
Mahmoud Warriah, Chief Financial
Officer
Allenby Capital Limited (Nominated
Adviser)
Tel: +44 (0)20 3328 5656
David Hart
Vivek Bhardwaj
Turner Pope Investments (TPI) Ltd
(Broker)
Tel: +44 (0)20 3328 5656
James Pope
Andy Thacker
About Sorted
Sorted's Delivery Experience
supports retailers in providing exceptional delivery experiences
and analysing post-purchase performance. It enables customers to
track deliveries and returns or exchange of parcels with
ease.
Founded more than a decade ago,
Sorted is trusted by leading retailers - such as Asda, ASOS and
M&S - to make customer purchase experiences a
differentiator.
www.sorted.com
@SortedOfficial
Media contact - Leah Jones - ljones@thecommsco.com