UK nanotech firm Nanosynth proposes to enter voluntary liquidation
16/05/2023 12:58
May 16 (Reuters) - Nanosynth Group NNNN.L said on
Tuesday it has proposed to enter into creditors' voluntary
liquidation, after an unsuccessful attempt to procure necessary
funding.
The company had flagged the lack of cash resources last
month, saying it was evaluating potential funding options.
Creditors' voluntary liquidation - the most common type of
insolvency - is a liquidation procedure that enables a company
to be wound up by resolution of its members instead of a court
order.
The AIM-listed firm, which specializes in the synthesis and
application of nanoparticles to create products, had a market
capitalization of 1.76 million pounds ($2.22 million), according
to Refinitiv data.
($1 = 0.7923 pounds)
(Reporting by Eva Mathews in Bengaluru; Editing by Shailesh
Kuber)
((Eva.Mathews@thomsonreuters.com;))