ANS Group Plc
LSE : ANS

August 08, 2008 06:57 ET

DISPOSAL OF INTEREST IN RSS WEB LTD TO LOWRY INVESTMENT CAPITAL

                                                                                            08/08/2008

GB0009606764
                                                                                                      
                                                   
                                             ANS GROUP PLC
                                                (PLUS)
                                     ("ANS Group" or "the Group")
                                                   
                                DISPOSAL OF INTEREST IN RSS WEB LTD TO
                                       LOWRY INVESTMENT CAPITAL

The  Board of ANS Group, a leading IT and Telecoms solution provider, today announces that on 5 August
2008  the Group disposed of its 80% interest in RSS Web Ltd (RSS) to Lowry Investment Capital  (Lowry)
for  consideration of £300,000.  Following the transaction the Group holds no shares in RSS, which  is
not core to the Group's business moving forward. The Board of Directors has considered the disposal of
RSS  Web  Ltd to Lowry Investment Capital and that the Directors deem the transaction to be  fair  and
reasonable to shareholders.

The  consideration will be payable to ANS Group as an unsecured loan note carrying 8% interest for the
life  of the loan until it expires.  The Group initially acquired its interest in RSS on 27 July  2007
for  the consideration of 1,000,000 shares in its subsidiary Smart Identity Plc that was floated  onto
the PLUS market on 20th September 2007.
    
The  consideration represents a premium to the price paid for RSS on its acquisition by ANS Group  and
represents  a  P/E  of 4 based on 2008 audited figures.  The latest audited accounts  for  the  period
28/7/07 to 31/3/08 show turnover of £257,443 and profit after tax of £50,766.
    
Not  having  been  integrated into the Group, RSS has become a non-core  business .   The  profit  of
approximately £104,000 made on the disposal of its holdings within RSS, allows ANS Group  to  continue
focusing its efforts in growing its core business and on making acquisitions.

Lowry  Investment  Capital  Limited is a trust wholly owned by The Scott Fletcher  2008  Discretionary
Settlement  ("the  Trust"). The trustees of the Trust are Scott Fletcher and Stephen  Fletcher,  Scott
Fletcher's  father ("the trustees"). The beneficiaries of the Trust are Scott Fletcher's children  and
their  descendants in the first instance. Scott Fletcher is the CEO of ANS Group and Chairman of Lowry
Investment Capital.

ANS Group Finance Director, Chris Malthouse commented:
"I  would  like  to thank the RSS staff for their contribution over the past 12 months  and  wish  the
company  success  moving forwards. This disposal allows the Group to move forward  and  focus  on  the
significant acquisition opportunities currently presented to it."


                                              ---ENDS---
                                                   
               The directors take responsibility for the contents of this announcement.


ENQUIRIES

ANS GROUP PLC                                                       TEL: 0161 227 1000
Scott Fletcher, Chairman
scott.fletcher@ansgroup.co.uk

ST HELEN'S CAPITAL PLC                                              TEL: 020 7628 5582
Duncan Vasey

BISHOPSGATE COMMUNICATIONS LTD                                      TEL:  020 7562 3350
Jenni Herbert
ansgroup@bishopsgatecommunications.com




About ANS Group

ANS Group is a technology infrastructure specialist in the provision of hardware, software and 24/7
managed services to Enterprise businesses. Operating within both public and private sectors, its
leading and award-winning solutions are offered in three key areas;

- Unified Communications & Wireless
- Storage, Storage Management & Virtualisation
- Security & Identity Management

Based in Manchester, ANS Group delivers consistently high levels of customer service through all
project deployments and ongoing support to its 400 plus client base. Working closely with key partners
Cisco, Hitachi Data Systems, Microsoft, Novell, vmware and Smart Identity allows ANS Group to offer an
unrivalled level of expertise and experience in the multifaceted industry of IT.
Visit us at www.ansgroup.co.uk.

Contact Information

  • ANS Group Plc