Zytronic to delist from AIM ahead of orderly wind-down

(Sharecast News) - Touch sensor tech firm Zytronic, which announced an orderly wind-down of the company last week, has reassured shareholders that they should receive above-market prices for their stakes, according to its estimates.

After conducting a strategic review last year and exploring a sale of the company, Zytronic said on 19 February that it was unable to agree on "suitably attractive terms" for a transaction.

The firm has now decided to cease trading and is currently finalising a possible production schedule for closure, it said on Wednesday.

The stock dropped sharply last week, finishing Tuesday's session at just 40.2p, down more than a quarter over the year-to-date and around half the price it was this time last year.

However, ahead of a proposed de-listing of the stock, the company engaged with advisory firm FRP Advisory with a view to maximise returns to shareholders, and revealed on Wednesday that shareholders can expect to receive an estimated return of 46p per share "in a conservative scenario". That would increase to 60p, "should prevailing asset valuations hold through the wind-down period", it said.

With the company not expecting to be able to publish its results for the fiscal year ending 30 September within the six-month deadline required by AIM rules, shares are likely to be suspended from trade on 1 April.

The stock was up 6% at 42.5p by 1107 GMT.