22 Oct 2021 10:00
Holders Technology plc
("Holders Technology" or the "Company")
Completion of Asset Disposal
Holders Technology, (AIM: HDT), announces that, further to its announcement on 24 August 2021, the PCB assets subject to the transaction were transferred to Ventec International Group ("Ventec") on 30 September 2021, and the consideration relating thereto has now been paid.
A further sum, relating to purchase orders placed by the Company for goods yet to be received, will be paid by Ventec by 31 October 2021 or shortly thereafter.
The disposal allows the Company to focus on the supply of specialist PCB materials, including Isola laminates and flexible laminates, as well as other technically sophisticated products, and for the Company to further develop and expand its lighting and control solutions business. The disposal proceeds will be used to invest in these activities and for general working capital purposes.
Rudolf Weinreich, Executive Chairman, commented: "I am pleased that we have completed the deal with Ventec and can now continue to focus on the remaining PCB business, as well as the opportunities in our lighting and wireless controls business."
For further information, contact:
Holders Technology plc 01896 758781
Rudolf Weinreich, Executive Chairman
Victoria Blaisdell, Group Managing Director
Paul Geraghty, Group Finance Director
Website: www.holderstechnology.com
SP Angel Corporate Finance LLP - Nomad and Broker 020 3470 0470
Matthew Johnson / Caroline Rowe