Renaissance further updates on the divestment of National Training Institute

Renaissance has issued a press release announcing the divestment of its subsidiary National Training Institute LLC ("NTI") to Babcock International Group Plc.

The divestment is effective on 31st December 2013, and will be accounted in 2013 audited results of the company. The cash proceeds of the transaction will be used for investment in the growth of core businesses. Any capital gain from the transaction shall not impact the 2013 profit as the Board is following a conservative policy of prudent provisioning; and so, is making additional provisions in noncore businesses at this time.

distributed by