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January 4, 1988

HOSKYNS BUYS COMPUTER-BASED TRAINING

By CBR Staff Writer

Hoskyns Group Plc has, as reported briefly (CI No 837) bought Fidalco Ltd, the Dublin-based holding company of Computer Based Training Ltd, for a nominal initial sum and up to UKP5m in shares over the next three years depending on performance. Computer Based Training, which offers computer-based financial management, banking and foreign trade, and telecommunications training courses, made a loss of UKPIr585,000 on turnover of UKP962,000 in the 22 months to October 31 1987, but is now trading at a profit. Its three owners, who have signed service agreements tying them to the firm for the next three years, will receive the maximum payment if CBT achieves sales of UKP14m and return on sales of 20% in 1990. Hoskyns is injecting UKP400,000 in working capital up front. CBT has net liabilities due to heavy expenditure on product development over the last two years. It was founded in 1983.

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