NEWS2 February 2010

IQ wraps-up sale of Rosslyn Research and Viewpoint Field

UK

UK— Rosslyn Research and Viewpoint Field changed owners this week, following their sale by IQ Holdings to Rivington Street Holdings.

IQ shareholders approved the sale in mid-January. Rivington, a minority shareholder in IQ, bought the companies in an all-share deal valued at £1.5m, plus the assumption of £1.8m in debts.

Announcing the deal late last year, IQ said it did not have the cash resources it needed to fund acquisitions to grow its business. IQ now becomes an ‘investing company’ under AIM stock market rules as it has no remaining trading businesses. Its principal asset will be a stake in Rivington Street Holdings worth £50,000.

IQ founder Julian Green, Rosslyn MD Joe Seydel, Viewpoint’s Gale Blears and non-executive director Neil McGowan have resigned as directors of IQ Holdings following the completion of the deal.

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