Directex Realisations plc (formerly Interactive Prospect Targeting Holdings plc) was the AIM-listed holding company of one of Europe's leading online marketing groups.
Following the sale of its UK businesses between September and November 2008 and French subsidiaries in April 2009 and January 2010, the Group now comprises the Company and its principal wholly-owned subsidiary, Direct Excellence Limited (until October 2008 Interactive Prospect Targeting Limited), and these companies will continue to trade as going concern investment holding companies whilst the Board seeks to maximise Shareholder value. This will involve the following:
- Dealing with post-completion issues in relation to the sale of Directinet and Netcollections, including the collection of any further amounts of consideration and the resolution of any warranty claims.
- Optimising the value of the Group’s 12.2% interest in the ordinary share capital of Web-Clubs Limited ("WCL"), an online marketing business which is a closely held private company and in which the Group has had an investment for some years.
- Realising any remaining tax recoveries in France.
- Settling any remaining liabilities.
- Maximising the return from surplus funds held by the Group.
- Keeping the Group overhead as low as possible.
- Considering whether and how best to return funds to Shareholders.