LONDON (Alliance News) - Photovoltaic wafer maker PV Crystalox Solar PLC said on Friday that it has decided to return a large proportion of cash to shareholders, as part of the company's orderly resolution of its affairs.
The company said the cash return would be better for shareholders than it pursuing acquisitions.
PV Cyrstalox expects to publish a detailed proposal and timetable around the time it issues its annual results on March 21.
In addition, PV Crystalox said its German subsidiary has continued to perform strongly, by using its existing capabilities for new business opportunities, including the cutting of non-silicon materials.
The company said the sale or transfer of the subsidiary remains under consideration.
Shares in PV Crystalox were up 3.4% at 25.80 pence on Friday.
