19 Feb 2016 15:51
19 February 2016
Toumaz Limited
Imagination Technologies Group plc stake
Toumaz Limited (AIM: TMZ, 'Toumaz', the 'Group' or the 'Company'), a pioneer in ultra-low power wireless semiconductor technology, notes that Imagination Technologies Group plc ('Imagination') has sold 175,323,698 shares in the Company, representing 10.3% of the issued share capital, in a placing to both new and existing investors.
Toumaz will continue to work in partnership with Imagination on existing commercial arrangements.
The Group's next generation connected audio solution incorporating Google Cast has already seen considerable interest and remains on course for release in mid-2016.
The review of strategic options for Sensium Healthcare, as announced on 21 January 2016 in the year-end trading update, is progressing as expected and is on track to complete in the middle of 2016.
The Group is expected to be cash-flow generative in mid-2016.
Anthony Sethill, CEO of Toumaz, said:
"The demand from both new and existing shareholders for this placing demonstrates the support for Toumaz's strategy. We are glad to report that our next generation connected audio solution, incorporating Google Cast, is on course for release in the middle of 2016. The strategic review of Sensium Healthcare is progressing as expected and the Board remains confident that this process will complete in mid-2016."
Enquiries
Toumaz Limited | +44 (0) 207 391 0630 |
Anthony Sethill, Chief Executive Officer Jonathan Apps, Chief Financial Officer | |
Peel Hunt LLP (Nominated Adviser and Broker) | +44 (0) 207 418 8900 |
Richard Kauffer/Euan Brown |
|
Instinctif Partners | +44 (0) 207 457 2020 |
Adrian Duffield/Chantal Woolcock |
About Toumaz (www.toumaz.com)
Toumaz Limited is a pioneer in low-power, wireless semiconductor and software technologies for digital audio and healthcare. The company has two divisions, Frontier Silicon and Sensium Healthcare. Frontier Silicon provides chips, modules and software for digital radio and connected audio devices. Sensium Healthcare develops wireless solutions for patient monitoring.