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(Sharecast News) - Empresaria Group announced on Friday that it had sold its 90% stake in Skillhouse Staffing Solutions, a Japanese IT staffing agency, to the unit's managing director Mark Smith for initial cash consideration of JPY 200m, approximately £0.94m.
The AIM-traded international staffing specialist said the transaction included deferred consideration based on 80% of Skillhouse's profit before tax for the 2026 and 2027 financial years, with a contractual minimum of JPY 20m, or approximately £94,000, payable per annum.
It said the divestment aligned with its strategy to streamline its portfolio and exit smaller operating units, with net proceeds supporting working capital requirements for the group's core operations.
The sale was classified as a related-party transaction given Smith's existing role within the business, though the board considered the terms fair and reasonable for shareholders.
At 1051 BST, shares in Empresaria were down 6.67% at 21p.
Reporting by Josh White for Sharecast.com.
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