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(Sharecast News) - Spend management firm Proactis Holdings has received several expressions of interest after launching a formal sales process back in July.
The AIM-listed group noted that there was "no certainty" that any offer would be forthcoming but told shareholders on Wednesday that it would update the market with further details after conducting a "careful review" of the approaches.
Elsewhere, Proactis noted that despite expecting full-year revenues to have increased 3.64% to £54.1m, annual earnings before income, tax, depreciation and amortisation were seen falling by 13.29% to £15.0m.
Proactis secured a total of 60 new customers and closed 127 upset deals, providing it with a total contract value of £11.3m for the year.
Net bank debt was reduced 7.12% to £36.5m following the generation of £5.1m of adjusted net free cash flow in the second half of the year. The debt remains fully serviced and within covenants.
Lastly, Proactis highlighted that it had made significant progress in the delivery of its turnaround strategy, with the associated benefits already on target.
As of 1330 BST, Proactis shares had slumped 4.86% to 48.52p.
The AIM-listed group noted that there was "no certainty" that any offer would be forthcoming but told shareholders on Wednesday that it would update the market with further details after conducting a "careful review" of the approaches.
Elsewhere, Proactis noted that despite expecting full-year revenues to have increased 3.64% to £54.1m, annual earnings before income, tax, depreciation and amortisation were seen falling by 13.29% to £15.0m.
Proactis secured a total of 60 new customers and closed 127 upset deals, providing it with a total contract value of £11.3m for the year.
Net bank debt was reduced 7.12% to £36.5m following the generation of £5.1m of adjusted net free cash flow in the second half of the year. The debt remains fully serviced and within covenants.
Lastly, Proactis highlighted that it had made significant progress in the delivery of its turnaround strategy, with the associated benefits already on target.
As of 1330 BST, Proactis shares had slumped 4.86% to 48.52p.