Plexus Holdings PLC ('Plexus' or 'the Company') Investment in precision engineering business -Kincardine Manufacturing Services Ltd
Highlights · Investment of £735,000 in cash to acquire a 49% interest in Kincardine Manufacturing Services Limited ('KMS'), a specialist precision engineering business with a blue-chip customer base, producing a variety of parts for the oil and gas sectors · KMS provides Plexus with future access to machining capability which can support R&D development projects to provide potential licensees with alternative applications of POS-GRIP® technology · Plexus' investment is by way of a subscription for new shares, and the proceeds will be used to fund expansion initiatives at KMS · KMS distribution/dividend policy expected to generate annual returns for Plexus