First Derivatives PLC Partial sale of Quantile Technologies holding (9579P)
23 Febbraio 2021 - 8:00AM
UK Regulatory
TIDMFDP
RNS Number : 9579P
First Derivatives PLC
23 February 2021
23 February 2021
First Derivatives plc
("FD" or the "Group")
Partial sale of Quantile Technologies holding
FD (AIM: FDP.L, Euronext Growth: FDP.I) announces that it has
agreed to sell part of its investment in Quantile Technologies
("Quantile") to Spectrum Equity, a growth equity firm. Under the
transaction FD will dispose of the majority of its holding in
Quantile for cash consideration of GBP11m, representing a total
gain of GBP10m on the initial cost of the investment (GBP7m gain on
the current carrying value). Following this transaction FD will
retain a minority stake in Quantile.
The investment occurred as part of FD's strategy of assisting
companies that were adopting KX in new and innovative ways.
Quantile utilises KX as the technology that underpins its highly
successful advanced compression and risk rebalancing services and
remains a valuable customer of the Group. The investment in
Quantile represented FD's largest investment of this type,
accounting for GBP10m of a total of GBP16m of other financial
assets on the Group's consolidated balance sheet as at 28 February
2020. In the year to December 2019, Quantile reported net profit of
GBP0.7m, although its performance was not consolidated as FD's
holding was below 20%.
The consideration has been received and the proceeds will be
used for general working capital purposes.
Enquiries
For further information please contact:
First Derivatives plc +44 (0)28 3025
Seamus Keating, Chief Executive Officer 2242
Ryan Preston, Chief Financial Officer www.firstderivatives.com
Ian Mitchell, Head of Investor Relations
Investec Bank plc (Nominated Adviser and Broker)
Andrew Pinder
Carlton Nelson +44 (0)20 7597
Sebastian Lawrence 5970
Goodbody (Euronext Growth Adviser and Broker)
David Kearney
Don Harrington
Finbarr Griffin +353 1 667 0420
FTI Consulting
Matt Dixon
Dwight Burden +44 (0)20 3727
Darius Alexander 1000
About FD
FD is a global technology provider with more than 20 years of
experience working with some of the world's largest finance,
technology, automotive, manufacturing and energy institutions. The
Group's KX technology, incorporating the kdb+ time-series database,
is a leader in high-performance, in-memory computing, streaming
analytics and operational intelligence. KX delivers the best
possible performance and flexibility for high-volume,
data-intensive analytics and applications across multiple
industries. FD operates from 15 offices across Europe, North
America and Asia Pacific, including its headquarters in Newry, and
employs more than 2,400 people worldwide.
For further information, please visit www.firstderivatives.com
and www.KX.com
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