ABS a.b.c. learning centres limited

all primates should buy abs

  1. 56,686 Posts.
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    This statement from the company on Friday is bollocks IMO.

    The company has previously advised the market of an ongoing sale
    process for the UK Vouchers business which is consistent with the
    company's stated aim of de-leveraging the business and strengthening the
    company's capital structure.
    The sale process for the Vouchers business remains open.
    If a successful transaction was achieved it would not conclude
    in the 2008 financial year.
    The company has previously advised it was considering selling
    its property assets in the UK.
    In addition, the company is now considering selling the UK
    nurseries business with the Vouchers business and the UK property assets
    in a single transaction.
    A number of highly conditional indicative proposals for the
    entire UK business have been received. A sales process has commenced and
    discussions are continuing with interested parties. The details of any
    successful transaction will be advised to the market.
    The current sale process envisages that the transaction will
    complete in the first half of the 2009 financial year and the profit
    recognised as a one-off item.
    The company has given previous guidance of an approximate $100m
    profit on the sale of the Vouchers business.
    If the company concludes a sale for the entire UK business the
    profit would be lower as the sale would crystallise into cash the
    previously recognised $51.1m discount on the acquisition of the Leapfrog
    Nurseries business.
    The company is unable to give any further guidance at this early
    stage of the process.
 
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Currently unlisted public company.

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