Zamano PLC Potential Disposal (4507N)
09 August 2017 - 4:00PM
UK Regulatory
TIDMZMNO
RNS Number : 4507N
Zamano PLC
09 August 2017
zamano plc
("zamano" or the "Company")
Potential Disposal
On 31 March 2017 the Company confirmed its intention to wind
down the existing business lines in order to protect the cash
position on the balance sheet. The board of zamano ("Board") has
considered its options for effecting this course of action in a
manner that maximises the cash available for distribution to
shareholders. The Board concluded that the wind down would most
effectively be completed by a sale of the Company's remaining
operating business and assets comprising its PSMS business.
Accordingly, the Company is in discussions with a number of
parties, and the Board believes it is close to executing a
transaction with a preferred party.
Any transaction if it proceeds will be for a nominal
consideration. zamano will also be required to make a cash
contribution to the business to provide it with adequate working
capital and in respect of potential liabilities that may arise
following completion of the sale.
Shareholders should note that there is no certainty that any
transaction will be completed and any transaction will be subject
to approval by the company's shareholders. A further announcement
will be made in due course.
zamano plc
Colin Tucker, Interim Tel: + 44 (0) 778 233
Chairman 3888
Investec Corporate Finance
Shane Lawlor/Ian McGreal Tel: + 353 1 421 0000
Cenkos Securities
Derrick Lee/Neil McDonald Tel: + 44 (0) 131 220
6939
MCOMM Communications Consultants
Richard Moore Tel: +353 1 661 3788
Mob: +353 87 241 4751
This information is provided by RNS
The company news service from the London Stock Exchange
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