The Board of Directors are pleased to announce a strategic move within the Group and have agreed to divest itself of its control holding in LCP Financial Ltd, the dedicated bond issuance company.
The stake has been sold on an agreed share exchange arrangement to ET Phone Home Ltd the company’s major shareholder and specialist design company in this financial sector. The decision has been taken in order to protect autonomy on issuance and issuance capacity for the varied client sectors within the SBS Technology Ltd portfolio and the company has retained a royalty right interest on all of the business being conducted in the handover book of issuances as of today.
The Board continues to focus on the build out of the EAE technology system and have ongoing access to bond capacity on commercial terms as and when required due to the close working relationship between the respective companies.
