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
Christopher Potts, Non-Executive
Chairman
Claire Smith, Chief Financial
Officer
|
0191
414 5511
|
|
Singer Capital Markets (Nominated Adviser and
Broker)
Alex Bond, Samed Ethemi (Investment
Banking)
|
020
7496 3000
|
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
