LONDON (Alliance News) - Angle PLC on Tuesday said it has received about GBP700,000 in cash from the release of an escrow amount in relation to the sale of Geomerics in December 2013.
"As part of its refocus as a pure-play specialist medtech company to deploy all its resources on the Parsortix non-invasive cancer diagnostics business, ANGLE sold its investment in graphics technology developer Geomerics Ltd," the company said.
The sale generated GBP6.2 million for Angle, with GBP5.5 million of that received immediately and the remainder held in escrow to settle any valid claims.
"We are pleased that the Geomerics transaction has completed successfully and the full escrow amount has been released," Andrew Newland, founder and chief executive, said.
Shares in Angle were up 0.7% at 68.95 pence on Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Angle (AGL)