RBG Holdings PLC (AIM:RBGP), the legal and professional services group, saw its shares climb 15% to 30.8p on Wednesday morning following the sale of LionFish Litigation Finance.
The group sold LionFish, a non-core business which finances litigation, to Blackmead Infrastructure for £3.07mln.
Proceeds used from the sale will be put towards working capital purposes and reducing the group’s net debt, according to a statement.
“We have delivered cash back to the group, reduced our net debt, with the potential to receive additional cash depending on LionFish's future performance,” said CEO Jon Divers.