Plus Markets sells its platform for £1

The beleaguered junior stock market Plus Markets yesterday sold its technical trading platform for a nominal £1 to its employees and other individuals.

Plus, which is in the process of selling its main exchange business to Michael Spencer's Icap, said the sale would save £54,000 in overheads until that deal goes through.

It added that it could end up receiving a further £281,250 as a part share of the revenues generated through the technology platform if the Icap deal goes through.

Plus's largest shareholder, Kuwaiti-backed Amara Dhari Investments, opposes the Icap deal because it involves payouts to two of Plus's directors.