ActionLeisure pays down debt with sale of marine division - BikeBiz

ActionLeisure pays down debt with sale of marine division

Shares in ActionLeisure plc were suspended recently pending news of a disposal. The PLC remains the home of Crabtree
Author:
Publish date:

ActionLeisure has sold XM, its marine division for £7m in cash.

This will eat into the PLC's £24.5m. ActionLeisure's board want to reduce

gearing (as measured by net borrowings divided by the Group's net assets) from

220 per cent to less than 50 per cent, by 31 December 2001.

As a smaller outfit Actionleisure is to come off the ‘official list’ and, from June 21st, its shares will instead be traded on the Alternative Investment Market, which is less expensive than full stock market listing.

The PLC has also released its preliminary accounts for the year ended 31 December.

At Crabtree Sports and Leisure Limited, sales increased by 7 per cent over 1999.

Featured Jobs

the cycle hub

Workshop Manager

The Cycle Hub I Dubai, United Arab Emirates I Competitive Package & Bonus I Date Published Monday 10th September 2018

Specialized_Logo_Red promo

Rider Care Representative

Specialized UK Ltd I Chessington, Surrey I Salary: Competitive DOE I Date Published Monday 3rd September 2018