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Kalamazoo admits sale preparations after 'leak'

Kalamazoo was forced to make a statement to the stock market after the share price rose from 51/2p to 101/2p in a week. An employee is thought to have leaked news the dealer management system company was being prepared for sale.

In the statement, Kalamazoo said the board was examining proposals which might lead to a sale as a continuing business.

Over five years, sales have fallen from £77.8m to £48.3m and profits of £3.88m in 1997 were followed by four years of losses totalling £15.75m. Market capitalisation has dropped from last year's £27.8m to £4.52m.

Managing director Malcolm Roberts' September departure is linked by analysts to disagreements with group chairman Bob Jordan about the sale of Kalamazoo. (November 20, 2001)

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