Disposal
Hertford International Group Plc ("Hertford ") wishes to announce that it has entered into an agreement to dispose of 55% of its wholly owned subsidiary Crewcall Network Limited, which comprises Talk2World, to Crewcall Telecoms Limited for a nominal sum.
Talk2World is a low-cost international calling solution which was developed by Hertford in Crewcall Network Limited and which was in the process of being rolled-out in the last quarter of 2009. Following the disposal, Crewcall Telecoms Limited has agreed to continue to operate the product and look at ways in which it can be properly marketed to realise its full potential. All of the operating costs of Talk2World will be borne by Crewcall Telecoms Limited pursuant to this agreement. The Directors believe that this transaction is in the best interests of shareholders as it protects Hertofrd's investment in the Talk2World product and allows Hertford to continue to derive revenue from a product without sharing any of the operational support.