RNS Number:6685W
Plexus Holdings Plc
16 May 2007

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services



16 May 2007

                Plexus Holdings PLC ('Plexus' or 'the Company')

                 Sale and Assignment of Non-Core Share Option



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business
and owner of the proprietary POS-GRIPTM method of wellhead engineering, has sold
its option to acquire 50% of the shares in a private engineering company to
Afrotel Corporation Ltd for #1,000,000 cash.  The disposal of the share option
includes related interest free loans totalling #200,000, which on exercise of
the option would convert into the shares.  This transaction results in an
#800,000 profit on disposal for Plexus. The #1,000,000 net cash received by
Plexus will be used as additional working capital, principally to invest in
additional inventory to support its sales growth.  The unaudited short form
management accounts of the private engineering business for the financial
year-end 28 February 2007 reported that the business generated a trading profit
after tax of #286,000.



Plexus CEO Ben van Bilderbeek said, "I am pleased to announce the disposal of
this non-core asset, which has proven to be an excellent investment for Plexus.
The proceeds of the sale will principally be re-invested in additional inventory
to accelerate the expansion of our overseas activities, where recognition for
our proprietary method of engineering continues to gain momentum.



"At the same time I can report that the Company is trading in line with the
Board's expectations."



                                  * * ENDS * *



For further information please visit www.posgrip.com or contact:

Ben van Bilderbeek     Plexus Holdings PLC                    Tel: 020 7589 8555

Graham Stevens         Plexus Holdings PLC                    Tel: 020 7589 8555

Ken Fleming            Bell Lawrie                            Tel: 0141 221 7733

Isabel Crossley        St Brides Media & Finance Ltd          Tel: 020 7242 4477

Felicity Edwards       St Brides Media & Finance Ltd          Tel: 020 7242 4477



Notes

Plexus Holdings PLC

Plexus, which began trading on AIM in December 2005, is an established oil and
gas engineering, and services business based in Aberdeen, with an office in
London and a presence in Houston, Texas. It has developed and patented a method
of engineering for oil and gas field wellheads and connectors, POS-GRIPTM, which
involves deforming one tubular member against another to effect gripping and
sealing.



POS-GRIP wellhead systems have to date been used in over 100 oil and gas wells
by international companies including BHP Billiton, BP, Brunei Shell Petroleum,
ConocoPhillips, Gaz de France, Global Santa Fe, Maersk, Petro-Canada Trinidad &
Tobago, Talisman Energy, Tullow Oil, and Wintershall.



The Group plans to accelerate the roll out of POS-GRIP technology as a superior
alternative to current wellhead technology. It has particular advantages in HP/
HT oil and gas environments for which there is increasing demand throughout the
world. The Company's long-term goal is to develop POS-GRIP technology as the
future industry standard for wellhead design. This objective includes the
distribution of POS-GRIP technology through licensees to maximise market
penetration.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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