Real Affinity sells Evolve Sport
As part of its restructuring program, Real Affinity plc has sold loss-making Evolve Sport Limited, a unit of Navigator, to Graham Morgan and John Bishop, of the Evolve management team for GBP135,001. The disposal will reduce costs by about GBP300,000 per annum and remove the requirement to provide on-going working capital to Evolve. The total payment includes the repayment of inter-company debt of GBP135,000.