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	Sicon News - June 2009
	Headline: Sicon back in private ownership

Sicon back under private ownership

After 4 years involvement with Hilton Head plc Sicon is on its way back to private ownership.  

Square One Limited has been established to purchase all of the shares of Sicon & Lan Synergy. Square One Ltd is owned entirely by the  original directors and owners of Sicon; Richard Youngman, Dave Carr & Jane Youngman.

Contracts have been exchanged between Square One Ltd and Hilton Head plc with completion expected before the end of June. As a result of this transaction Q\Dos will be moving out of iTech house and remaining part of the Hilton Head plc group.

Richard Youngman returns full time to Sicon and will be actively involved in the Sage and developed products areas of the business.

Trading business activities will continue  as normal with the Sicon Ltd business. Square One Ltd will remain as a holding company only.

Other changes in structure at Sicon 

Lan Synergy Ltd, which is  currently a wholly owned subsidiary of Sicon Ltd, will be merged into Sicon as a new division in the coming months in an effort to save accounting and admin time.

Details on changes of bank accounts for Lan Synergy customers will  follow in the next few weeks