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Velpic prepares to dispose part of its business

Further details are expected to be released by the close of trading tomorrow.
DISPOSAL word written on wood block
The proposed business disposal will require shareholder approval

Velpic Ltd (ASX:VPC) has been granted a trading halt by the ASX pending the release of information regarding a proposed disposal of part of the company’s business.

Shares will remain halted until the earlier of, the release of the relevant information, or, the commencement of trading on Thursday.

READ: Velpic has strongest quarter of revenue growth yet

Velpic’s learning management system (LMS) platform allows companies to create their own training lessons and distribute them to staff and contractors.

The last reported quarter to date was March which was the company’s strongest to date.

Invoiced recurring revenue was up 88% vs the March 2017 quarter and the number of the lessons completed on the platform was up 233% vs the March 2017 quarter.

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