Empresaria Group (AIM:EMR) has agreed to sell its 90% interest in Skillhouse Staffing Solutions K.K. to Skillhouse's managing director, Mark Smith, for an initial cash consideration of ¥200m (approximately £0.94m) plus deferred consideration linked to future profits.
The sale is part of the international specialist staffing group's previously announced strategy to exit smaller operations in markets or sub-sectors where it will not commit further investment and the net proceeds are expected to be applied to the Group's working capital requirements.
Deferred consideration will be calculated as 80% of Skillhouse's profit before tax across the 2026 and 2027 financial years, subject to a minimum payment of ¥20m (approximately £94k) for each financial year.
As at 31 December 2025 the gross assets sold were approximately £2.4m and Skillhouse reported profit before tax of approximately £0.25m for the year then ended.
The sale is treated as a related-party transaction under the AIM Rules because the buyer is a director of Skillhouse, and after consulting its nominated adviser Allenby Capital Empresaria's directors, who say they are independent of the sale, consider the terms fair and reasonable for shareholders.
