Computer hardware and software distributor Fayrewood plc has today sold its shares in ComputerLinks AG.

Fayrewood owned 27.47 per cent of ComputerLinks AG, a European value-added distributor of computer security products.

The firm said that the net proceeds from the sale are expected to be €27.4m, having traded at €13.55 each per share.

In a statement issued this afternoon, Fayrewood said proceeds from the sale "will be placed on deposit by the Company and aggregated with the proceeds received from the sale of UMD SAU.

"It is the Company’s intention, subject to unforeseen circumstances, to make available not less than £35 million to Fayrewood shareholders. A proposal containing full details on the company’s intentions will be circulated in due course."

The shares in ComputerLinks were offered to European investors earlier today in the form of a private placement.®