Zytronic, a London-listed producer of contact display know-how, will wind down after being unable to safe a beautiful sale of its buying and selling subsidiary.
The Newcastle-based firm, which employs round 50 workers, has been searching for a purchaser since late 2024.
In keeping with Zytronic, the corporate’s efficiency has by no means recovered to pre-Covid ranges, and regardless of a 22% income improve in its most up-to-date monetary outcomes, it remained unable to proceed as is. Pre-tax losses for 2024 have been £600,000.
It was concluded in November, following a strategic evaluate, {that a} sale can be the one probability to make a return to shareholders.
Although a handful of suitors have been discovered, none have been capable of present a adequate supply to justify a deal.
The board introduced on Wednesday that it’ll start the orderly wind-down of the corporate’s belongings.
Shares in Zytronic tumbled by as a lot as 27% on the opening of buying and selling.
“At this stage, there might be no assure as to the extent of returns, which may be obtainable to shareholders,” the board stated.
The wind-down course of will likely be dealt with by FRP Advisory.
Zytronic’s web money place is round £3m, not together with wind-down prices.
The corporate was listed on the London Inventory Change in 2000 at a share value of 116.5p. The group’s shares peaked in 2017, reaching 607.5p earlier than tanking by greater than 90%.
Zytronic designs composite element contact applied sciences which were utilized by Coca-Cola in its contact screen-operated machines. The group has additionally supplied contact tech to Bosch, Siemens, the Pure Historical past Museum and Microsoft.
Bookmark your favourite posts, get day by day updates, and luxuriate in an ad-reduced expertise.
