1 Feb 2019 10:50
PV Crystalox Solar PLC
Update on Group strategy
PV Crystalox Solar plc (the "Group") announces that following an extensive review of the strategic options for the future of the Group, the Board has concluded that returning a large proportion of available cash, as part of an orderly resolution of the Group's affairs, would be in the best interest of shareholders rather than the pursuit of acquisitions. The Board expects to be in a position to set out a detailed proposal and timetable at the time of the announcement of the preliminary results for 2018 which is expected on 21 March. Operations at the Group's subsidiary in Germany continue as good progress has been achieved using existing capabilities to develop new business opportunities in the cutting of non-silicon materials. A sale to a third party or a transfer of the business to the existing management team remains under consideration.
Enquiries:
PV Crystalox Solar PLC +44 (0) 1235 437160
Iain Dorrity, Chief Executive Officer
Matthew Wethey, Chief Financial Officer and Group Secretary