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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Thruvision Group plc    DGB   GB00B627R876

THRUVISION GROUP PLC

(DGB)
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Digital Barriers : Completion of Disposal

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10/31/2017 | 11:03am EDT

31 October 2017

Thruvision Group plc

Completion of Disposal

Thruvision Group plc (AIM: THRU), ('Thruvision' the 'Company' or, together with its subsidiary undertakings, the 'Group') the specialist provider of people-screening technology to the global security market, announces that the Disposal of the Group's Video Business to Volpi has now completed. This follows the approval of all resolutions at the Company's General Meeting held on 26 October 2017.

Accordingly, Digital Barriers plc has now changed its name to Thruvision Group plc to better reflect the business of the Continuing Group. It is expected that from8.00 a.m. tomorrow, Wednesday 1 November, the Company's ordinary shares will trade on the AIM market of the London Stock Exchange under the new name of Thruvision Group plc and its Tradable Instrument Display Mnemonic will be changed to 'THRU' (from 'DGB').

Upon Completion, the following Board changes became effective:

· Zak Doffman, the Company's Chief Executive Officer, has stepped down from the Board with immediate effect and will join the Video Business;

· Tom Black, Non-executive Chairman, has become Executive Chairman;

· Colin Evans, Chief Operating Officer, has become Managing Director; and

· Sharon Cooper, Chief Financial Officer, has stepped down from the Board with immediate effect and will leave the Company following a short transition period.

It is anticipated that the Company will announce Interim results for the 6 months ended 30 September 2017 in mid-December 2017. In addition the Board is currently reviewing the process required to implement the previously reported return of capital to shareholders and it is expected that this return of capital will complete in Q1 2018.

Notes

Capitalised terms contained in this announcement shall have the same meaning given to them in the announcement dated 9 October 2017.

For further information please contact:

Thruvision Group plc

Tom Black, Executive Chairman

Colin Evans, Chief Operating Officer

+44 (0)20 3553 5888

Investec Bank plc (Financial Adviser, NOMAD & Broker)

Andrew Pinder / Sebastian Lawrence / Patrick Robb

+44 (0)20 7597 5970

FTI Consulting LLP

Edward Bridges / Matt Dixon / Harry Staight

+44 (0)20 3727 1000

Digital Barriers plc published this content on 31 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 October 2017 16:02:03 UTC.


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Financials
Sales 2021 9,40 M 12,3 M 12,3 M
Net income 2021 -2,10 M -2,76 M -2,76 M
Net cash 2021 5,50 M 7,22 M 7,22 M
P/E ratio 2021 -28,0x
Yield 2021 -
Capitalization 38,7 M 50,8 M 50,8 M
EV / Sales 2021 3,53x
EV / Sales 2022 3,02x
Nbr of Employees 37
Free-Float 82,9%
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Mean consensus HOLD
Number of Analysts 2
Average target price 40,00 GBX
Last Close Price 26,60 GBX
Spread / Highest target 50,4%
Spread / Average Target 50,4%
Spread / Lowest Target 50,4%
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Managers
NameTitle
Colin Michael Evans Managing Director & Executive Director
Thomas Joseph Black Executive Chairman
Adrian Graham Crockett Director & Finance Director
Paul Ronald Taylor Independent Non-Executive Director
John Andrew Woollhead Secretary
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