Sygnity reports it has sold its stake in KPG, a GIS asset. The total value of the transaction amounted to PLN 5.9m. Sygnity will book a one-off gain on this transaction, which will increase the company’s EBIT by PLN 1.0m in 3Q09.
We expect a neutral market reaction to the news. The transaction is part of the firm’s strategy implemented at the end of 2007 to dispose of non-core assets.