Brightside Group moves more business out of Gibraltar
Brightside is to move another chunk of its business from Gibraltar with the proposed acquisition of software platform Esystems and software house eDevelopment for £17m from Rock e-Systems.
Following similar transactions with eCar and eBike, the broker claimed the purchase would give it total control of the specification and timing of the development of its online distribution capability.
The acquisition is a related party transaction under stock exchange rules as Arron Banks, CEO of Brightside, Paul Chase-Gardener, finance director of Brightside and John Gannon, commercial director of Brightside own 100% of the shares of Rock Holdings Limited which in turn owns 100% of Rock e
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