Listed tech firm sells most of its stake in compliance management company

Pulsar Group, a listed technology business delivering Software-as-a-Service (SaaS) solutions for the global marketing and communications industries, has sold the majority of its 21% shareholding in TrackRecord Holdings Ltd.

This is the holding company of York-based compliance management company Trailight.

The sale was for a cash consideration of £1.4m. Pulsar now retains a 1% shareholding in TrackRecord Holdings.

For the year ended 30 November 2023, Pulsar recorded a loss of around £198,000 on its income statement associated with this minority interest.

The carrying value of the shareholding on the interim accounts balance sheet of Pulsar as of 31 May 2024 was around £160,000. Pulsar expects to recognise a profit on disposal of £1.2m.

 Christopher Satterthwaite, non-executive chairman, said: “We are happy to crystalise the value of our minority shareholding in Trailight with the proceeds of the transaction being used in the group’s strategy of capitalising on the market opportunity and enhancing the profitability and cash generation of the company.”