REG - Trackwise Designs - Trackwise Designs plc Sale Process

Trackwise DesignsAnnouncement

24/07/2023 07:00

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RNS Number : 8781G  Trackwise Designs PLC  24 July 2023

24 July 2023

 

TRACKWISE DESIGNS PLC

 

("Trackwise", the "Company" or the "Group")

 

Trackwise Designs plc Sale Process

 

 

Trackwise Designs plc (AIM: TWD), a leading manufacturer of specialist
products using printed circuit technology, announces the launch of a sale
process for the business.

 

On 21 July 2023 the Company announced that, after working with a Tier-1 for
more than a year on the opportunity to supply Cell Connection System FPCAs to
the Tier-1, for onward assembly and supply to OEM B, Trackwise has been
informed by the Tier-1 that the Tier-1 has not been successful in obtaining
nomination from OEM B and, as a result, the Board is reviewing all options for
TWD.

 

Following a further internal review, the Board has resolved to commence a sale
process for TWD (the "TWD Sale Process").

 

Parties that are potentially interested in the acquisition of, or investment
in, Trackwise Designs plc should contact the Corporate Finance Team at FRP
Advisory Trading Limited using the following email address
trackwise@frpadvisory.com.

The Board reserves the right to alter any aspect of the TWD Sale Process or to
terminate it at any time and in such cases will make an announcement as
appropriate. Further announcements will be made as and when appropriate.

 

The SCL Sale Process

 

On 3 May 2023 the Company announced that it was in the process of appointing a
sales agent for the SCL Sale Process. Initial offers have been received and
are being assessed.

 

Parties that are potentially interested in the acquisition of, or investment
in Stevenage Circuits Limited should contact the Corporate Finance Team at FRP
Advisory Trading Limited using the following email address
trackwise@frpadvisory.com.

The Board reserves the right to alter any aspect of the SCL Sale Process or to
terminate it at any time and in such cases will make an announcement as
appropriate. Further announcements will be made as and when appropriate.

 

 

Enquiries

 

 Trackwise Designs plc                           +44 (0)1684 299 930
 Philip Johnston, CEO                            www.trackwise.co.uk (http://www.trackwise.co.uk/)
 Paul Cook, CFO

 finnCap Ltd                                     +44 (0)20 7220 0500
 NOMAD and Broker
 Ed Frisby/Fergus Sullivan - Corporate Finance

 Andrew Burdis/Barney Hayward - ECM

 Alma PR                                         +44 (0)20 3405 0205
 Financial PR and IR
 David Ison/ Kieran Breheny/Pippa Crabtree

 

Notes to editors

 

Trackwise is a UK-based, King's Award winning, manufacturer of specialist
products using printed circuit technology.

 

The full suite includes: Improved Harness Technology™ ("IHT") and Advanced
PCBs - Microwave and Radio Frequency ("RF"), Short Flex, Flex Rigid and Rigid
Multilayer products.

 

IHT uses a proprietary, patented process that Trackwise has developed to
manufacture multilayer flexible printed circuits of unlimited length. While
the technology has many applications, the directors expect that one of its
primary uses will be to replace traditional wire harnesses in a variety of
industries.

 

The Company operates from three sites, located in Tewkesbury, Stonehouse
and Stevenage. It serves customers in Europe and North America.

 

Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker
TWD. For additional information please visit www.trackwise.co.uk.
(http://www.trackwise.co.uk/)

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part
of UK law by virtue of the European Union (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's obligations under
Article 17 of the UK MAR. Upon the publication of this announcement, this
inside information is now considered to be in the public domain.

 

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