TIDMINCE

RNS Number : 0115V

Ince Group PLC (The)

31 March 2023

31 March 2023

The Ince Group plc

("Ince", the "Company" or the "Group")

Completion of Strategic Disposals and separation of German Business

The Board of Ince Group PLC (AIM: Ince), a full service corporate and commercial law firm specialising in the shipping, insurance, aviation, energy, construction/real estate and high-net-worth advisory sectors, announces the successful completion of the disposal of its non-core Bristol-based claimant personal injury and clinical negligence practice to Clinical Negligence Services Ltd (trading as Enable Law) (the "PI Disposal").

As stated in the Company's announcement on 27 January 2023, Ince received GBP1.3 million in cash consideration in respect of the PI Disposal, which has been applied to the Group's working capital requirements.

Ince also announces that the disposal of its Gibraltar subsidiaries, as described in the Company's announcement on 3 October 2022, has completed on the terms set out in that announcement (the "Gibraltar Disposal"). As noted in the 3 October 2022 announcement, the Gibraltar Disposal will yield total consideration of GBP700,000 in cash, less approximately GBP210,000 in respect of certain costs and deferred consideration, which will be applied to the Group's working capital requirements.

In addition, Ince announces that further to the announcement on 23 November 2022, the accounting deconsolidation and necessary resetting of the relationship with Ince Germany to effectively separate it from the Group, as required by local laws and regulations following the implementation of Brexit, will complete today. The former Ince Germany entities will be renamed as Ancon Blue, and Ince and Ancon Blue will retain a close relationship as preferred referral partners.

Contacts:

 
 The Ince Group plc 
 Donald Brown, Group Chief Executive          investorrelations@incegd.com 
 Simon Oakes, Chief Financial Officer 
 
 Allenby Capital Limited - Nominated 
  Adviser                                     +44 (0) 20 3328 5656 
 Jeremy Porter / Piers Shimwell, Corporate 
  Finance 
 
 Arden Partners plc - Broker                  +44 (0) 20 7614 5900 
 Louisa Waddell, Corporate Finance 
 Simon Johnson, Corporate Broking

About The Ince Group plc

The Ince Group is a dynamic international legal and professional services business with offices in nine countries across Europe, Asia and the Middle East. With over 700 people, The Ince Group delivers legal advice, strategic guidance and business solutions to clients ranging from the world's oldest and biggest businesses operating across numerous industries to ultra-high net worth individuals. Through its entrepreneurial culture and "one firm" approach, the business offers its clients over 150 years of experience, insight and relationships. The Groups driven by a unique team of passionate people whose broad expertise and deep sector specialisms provide their clients with solutions to all their complex legal and strategic needs.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISFLFLEVVILVIV

(END) Dow Jones Newswires

March 31, 2023 11:17 ET (15:17 GMT)

Ince (LSE:INCE)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Ince Charts.
Ince (LSE:INCE)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Ince Charts.