REG - Zytronic PLC - Conclusion of Sale Process and Asset Wind-Down

ZytronicAnnouncement

19/02/2025 07:15

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RNS Number : 5996X  Zytronic PLC  19 February 2025

19 February 2025

 

Zytronic plc

 

("Zytronic" or the "Company" and its subsidiaries)

 

Conclusion of Sale Process and Asset Wind-Down

 

Further to its announcement on 14 November 2024, the Company today announces
that the Board has concluded the sale process for its trading subsidiary,
Zytronic Displays Limited ("ZDL") and its underlying assets.  Despite
engaging with multiple counterparties, the Company was unable to agree on
suitably attractive terms for a transaction.

 

As a result, the Board, in consultation with FRP Advisory Trading Limited
("FRP Advisory") will commence the orderly wind-down of the Group's assets. At
this stage, there can be no guarantee as to the level of returns, that may be
available to shareholders.

 

As at 31 January 2025 the group's net cash position was broadly unchanged from
the figure provided at 14 November 2024, but excludes wind-down costs. FRP
Advisory is in late stages of finalising its outcome statement which will
provide shareholders with an indicative range of returns available in an
orderly wind-down. Further announcements will be made in coming days, as
required.

 

Enquiries:

 

 Zytronic plc                                           0191 414 5511

 Christopher Potts, Non-Executive Chairman

 Claire Smith, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Broker)  020 7496 3000

 Alex Bond, Samed Ethemi (Investment Banking)

 

Notes to Editors

The Company's trading entity Zytronic Displays Limited ("ZDL") is an
established developer and manufacturer of a range of internationally
award-winning optically transparent interactive touch sensor overlay products
for use with electronic displays in industrial, self-service and public access
equipment.

 

ZDL has continually developed process and technological know-how and
intellectual property since the late 1990's around two projected capacitance
("PCAP") sensing methodologies; trademarked by it as PCT™ ("Projected
Capacitive Technology") and MPCT™ ("Mutual Projected Capacitive
Technology"), in respect of which 20 internationally granted patents are held.
As part of this the Company has invested in and developed an advanced
electronic PCAP controller, the ZXY500, which incorporates a specialist
Application Specific Integrated Circuit ("ASIC") specified and owned by
Zytronic, and bespoke firmware on the controller processor.

 

ZDL's PCAP sensing solutions are readily configurable and embedded in a
laminate core which offers significant durability, environmental stability,
and optical enhancement benefits to meet system-specific design requirements.

 

The Company is headquartered at Blaydon-upon-Tyne in the United Kingdom. ZDL
operates from this site, providing its manufactured products globally through
a number of sales channel partners. ZDL differentiates itself from others in
the touch eco-system as it offers a complete one-stop solution including
processing internally of the form and factor of glass and film substrates, the
assembly of the associated touch overlay products, in environmentally
controlled cleanrooms to customer's specific requirements and the development
of the bespoke firmware, software and electronic hardware which comprise the
controller that links the manufactured touch interactive overlays to a
customer's integrated systems and product.

 

For more information about ZDL's technologies and products, and the Company
please see www.zytronic.co.uk (https://www.zytronic.co.uk/)

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