CPI.L

Capita Plc
Capita Plc - Disposal
5th September 2024, 09:58
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5 September 2024

Completion of Capita One sale

Capita plc(Capita) has today completed the sale of Capita One Limited, its
standalone software business, to MRI Software, receiving net cash proceeds of
approximately £180m, in line with the terms announced on 9 July 2024.

The sale of Capita One follows an evaluation of certain activities currently
carried out by Capita that are not core to the Group's future strategy. As
announced on 13 June 2024 at the Group's Capital Markets Event, standalone
software activities are part of the Group's activities that are being managed
for value.

As previously outlined, the proceeds of the sale will materially strengthen the
Group's financial position while providing funding and optionality for the
transformation journey. We expect the Group to have minimal net financial debt
at 31 December 2024.

Adjusting for the disposal of Capita One, on a pro-forma pre-IFRS 16 basis as at
30 June 2024, Capita was in a net cash position.

Barclays Bank PLC, acting through its Investment Bank (`Barclays') acted as sole
financial advisor and sole sponsor to Capita on the transaction.

Notes to editors:

Investor enquiries
Helen Parris, Director of Investor Relations
Tel: 07720 169 269
Email: IRteam@capita.co.uk

Stephanie Little, Deputy Head of Investor Relations
Tel: 07541 622 838
Email: IRteam@capita.co.uk

Media enquiries
Capita external communications
Tel: 02076 542399
Email: media@capita.co.uk

Barclays Bank PLC, acting through its Investment Bank (Sole Financial Advisor
and Sole Sponsor to Capita)

Aamir Khan

Jessel Sheth

Tom Macdonald

Michael Hart

Stuart Muress

Tel: 0207 623 2323

About Capita One

Capita One is a provider of software solutions across the UK public sector,
helping local authorities drive efficiency, maximise revenue collection and
deliver essential public services as cost effectively as possible. Capita One
primarily serves local authorities, local education authorities and housing
associations, and the business operates across three sectors: revenue and
benefits software, social housing management and education management software.
The Capita One senior management team comprises: Jon Peart, Stuart Cheetham,
Dave Smedley, Paul Millard, James Allard and Gavin Chamberlain. The Capita One
senior management team will be transferring with the business.

About MRI Software

MRI Software is a leading provider of real estate software solutions that
transform the way communities live, work and play. MRI Software's open and
connected, AI-first platform empowers agents, owners, operators and occupiers in
commercial and residential property organizations to innovate in rapidly
changing markets. MRI Software has been a trailblazer in the PropTech industry
for over five decades, serving more than six million users worldwide, including
social housing and the public sector. Through innovative solutions and a rich
partner ecosystem, MRI Software gives real estate companies the freedom to
realize their vision of building thriving communities and stronger businesses.
For more information,
visithttps://www.mrisoftware.com/uk/ (https://clicktime.symantec.com/15t5pR6ACJej
5s6pBHYXJ?h=GRDuseExdeZjnyOrVfBxBpA89lwF4
-mhUearBivUcow=&u=https://www.mrisoftware.com/uk/).

About Capita

Capita is a modern outsourcer, helping clients across the public and private
sectors run complex business processes more efficiently, creating better
consumer experiences. Operating across 8 countries, Capita's 41,000 colleagues
support primarily UK and European clients with people-based services underpinned
by market-leading technology. We play an integral role in society - our work
matters to the lives of the millions of people who rely on us every day.

Important Notice

Barclays, which is authorised by the Prudential Regulation Authority (`PRA') and
regulated in the United Kingdom by the FCA and the PRA, is acting exclusively
for Capita and no one else in connection with the transaction that this
announcement relates to and will not be responsible to anyone other than Capita
for providing the protections afforded to clients of Barclays nor for providing
advice in relation to the transaction or any other matter referred to in this
announcement.

This information was brought to you by Cision http://news.cision.com

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