PracticeAccounting FirmsKingston Smith liquidators to distribute millions to Bond International Software PLC members

Kingston Smith liquidators to distribute millions to Bond International Software PLC members

AIM-listed Bond International Software has had Kingston Smith and Partners appointed as liquidators.

LIQUIDATORS from Kingston Smith have been appointed to Bond International Software PLC.

Kingston Smith partners Ian Robert and Brian Baker were appointed as the joint liquidators to Bond International Software, the staffing and recruitment software company. The PLC was placed into members’ voluntary liquidation (MVL) on 7 December 2016, with the ongoing business sold to private equity firm private equity firm Symphony Technology Group last month. An MVL sees a solvent company liquidated to share proceeds among its members. The joint liquidators expect an initial capital distribution of around £54m to the 250 shareholders next month.

Ian Robert said: “Working closely with the board and its advisers, we are delighted to be able to work towards a first distribution back to shareholders of around 126p per share, in line with previous circulars.”

The partners are aiming to make the first distribution to shareholders in the week commencing 9 January 2017, which intends to deliver more than 95% of the shareholders’ money.

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