Reckon – proposed demerger

On Friday, software company Reckon (ASX: RKN) announced a proposed demerger of its document management division, which currently represents approximately 15% of 2016 group turnover, with shares to trade on the AIM Market of the London Stock Exchange (AIM). The board of directors said the proposal will place Reckon in a strong position to move forward and allow the document management segment to pursue an independent strategy to develop new global market offerings. Shares in Reckon closed flat for the week. We own Reckon as a research-driven investment in WAM Capital and WAM Research.