The West

Computershare sells UK  asset to chairman
Computershare sells UK asset to chairman

Computershare says it will sell UK-based Flag Communication Limited to interests associated with the chairman Chris Morris for STG400,000 ($A624,951).

The Australian share registry group said it had identified Flag, which it acquired in September 2004, as a non-core asset in a recent review of a range of its businesses.

"While the transaction is very small, because of the relationship between the company and Mr Morris, the transaction was considered and approved by the Computershare board," the company said in a statement on Friday.

Mr Morris was absent when the board decision was made, it said.

The move comes as Europe's financial woes caused Computershare to take a charge of up to $US65 million ($A66.17 million) in its business in the region.

As previously forecast, Computershare expects earnings per share for the full financial year to be down 10 to 15 per cent from the previous financial year's 47.53 cents.

The West Australian

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