Source - Alliance News

Cornerstone FS PLC - cloud-based payment provider - Says it will sell its non-trading subsidiary Capital Currencies Ltd for £150,000, as it enters a share purchase agreement. Does not disclose buyer. Chief Executive Officer James Hickman says: ‘This is a great outcome for Cornerstone, generating value from the sale of a licence, that is surplus to our requirements, to a non-competing business. As with the sale of our Avila House subsidiary at the start of the year, which was acquired for its small e-money licence, this transaction also demonstrates the importance of payments and e-money registrations and the value that purchasers place on them.’

Current stock price: 11.92 pence, closed 2.7% lower on Wednesday in London

12-month change: up 77%

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