CloudCoCo Group PLC - London-based provider of managed IT services and communications solutions - Confirms that the proposed sale of CloudCoCo Connect Ltd has now completed. Follows announcement in October that it was selling the unit to BE Co of United Kingdom Ltd for £250,000, including sale of net liabilities of £1.7 million.

‘The board intends to use the cash proceeds from the Proposed Disposal for working capital purposes. The BE Company is a provider of clean energy infrastructure for power-intensive industries, utilising a project developer model that promotes clean energy-as-a-Service. Their core competencies include project development, management, and financing, offering low-cost clean energy at an industrial scale,’ Cloudcoco said in October.

Current stock price: 0.27 pence, down 18% at the London close on Friday

12-month change: down 72%

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