Promethean World plc

Company summary

Promethean World plc, is an LSE listed company which specialises in interactive education and training solutions for schools, businesses and governments.

19 December 2012 | Education

Company news

Sale of Minority Investment in Flatfrog Laboratories A.B.

Promethean sells minority investment in FlatFrog Laboratories A.B.

Promethean World, a world leader in the global market for interactive learning technology, today announces the sale of its minority investment in FlatFrog Laboratories A.B.

On 17 December 2012 Promethean sold its entire holding of 12,336,000 ordinary shares (each with a nominal value of 0.25 SEK) representing a 3.8% holding in FlatFrog to a number of existing shareholders in FlatFrog for an aggregate cash consideration of SEK 1.471624 per share (total consideration of SEK 18,153,953 or c. £1.7m). The proceeds from this transaction will be re-invested in Promethean's core business.

FlatFrog Laboratories A.B. is based in Lund, Sweden, in the technologically expansive Öresund region, and is privately owned with investment backing. FlatFrog develops advanced electronic multi-touch technology and hardware based on its patented optical in-glass PSD technology. FlatFrog reported a loss for the year to 31 December 2011 of SEK 34 million.

The current carrying value of the investment in FlatFrog in Promethean's balance sheet is nil. Due to Promethean holding a small minority of FlatFrog ordinary shares, the results of FlatFrog are not consolidated. ​

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Services

 

Our expertise

Deal origination - acquisitions - We help quoted companies and private equity houses source acquisitions in the UK and overseas.

Deal origination - disposals - We help owners of companies wishing to dispose of their business.

IPO advice - We provide strategic, financial and valuation advice to companies considering an IPO.

Valuation - We undertake valuations for ESOP transactions, employee share schemes and for a wide range of fiscal, legal and commercial purposes.

Our sectors

Our corporate finance skills can be employed in a wide range of sectors. We have a particular strength in animal health, education, outsourcing, IT, data analytics and financial publishing.

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