home / news

5th July 2006

CODASciSys plc announces proposed demerger

Business Collaborator Ltd's parent company, CODASciSys plc, announced today it proposes to split into two separate businesses, each listed on the Alternative Investment Market (AIM) in London.

The two new companies will be CODA plc, incorporating Business Collaborator Ltd and Science Systems Commercial, and SciSys plc.

The news highlights the strengths and value of all parts of the group and gives each division greater control and independence. All parts of the group are financially strong and the two companies will each be able to focus on their core strengths, growing their business and investing for the future.

The Demerger and admission of CODA plc shares to trading on AIM are expected to take place in late September 2006.

Graham Steinsberg, CEO, of CODASciSys plc, commented:

“We believe there are now compelling reasons to effect this Demerger, both from an investment and a commercial perspective. By giving corporate independence to CODA and SciSys, both companies will be better able to address their respective markets. In addition, the Demerger will enhance shareholder value through exposure to these distinct markets, separate operational management and improved visibility. ”