The Group's principal activity is to provide online auctions and vehicle remarketing services in the United States, Canada and the United Kingdom. The Group provides vehicle sellers with a range of services to process and sell vehicles over the Internet through its Virtual Bidding Second Generation Internet auction-style sales technology, which it refers to as VB2. Sellers are primarily insurance companies but also include banks and financial institutions, charities, car dealerships, fleet operators, vehicle rental companies and the general public. In the United States and Canada or North America, it sells vehicles primarily as an agent and derive revenue primarily from fees paid by vehicle sellers and vehicle buyers as well as related fees for services such as towing and storage. In the United Kingdom the Group operates primarily on principal basis, purchasing the salvage vehicle outright from the insurance companies and reselling the vehicle for its own account.
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