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Elektron Technology PLC Announces Conditional Disposal Of Total Carbide Limited To Versarien plc


Friday, 7 Jun 2013 02:00am EDT 

Elektron Technology PLC announced that it has exchanged contracts on the sale of its subsidiary, Total Carbide Limited to Versarien plc, for a total consideration of approximately GBP2.3 million of which approximately GBP1.23 million (net) is in cash and GBP1.05 million is in shares in Versarien. The consideration represents the approximate net asset value of Total Carbide. Approximately GBP0.7 million of Consideration Shares are required to be held by Elektron for a minimum period of 6 months and will be held as an investment. There are no restrictions on the balance of GBP0.35 million Consideration Shares. The cash proceeds of the disposal will be used by Elektron to reduce borrowings. 

Company Quote

4.875
0.0 +0.00%
31 Oct 2014