Disposal of ProPhotonix shareholding

RNS Number : 4702P

600 Group PLC

31 August 2017

 

31 August 2017

The 600 Group Plc

("The Company")

Disposal of ProPhotonix shareholding

The Board is pleased to announce that it has disposed of its entire holding in ProPhotonix Limited the AIM listed laser diode and LED systems manufacturer and distributor for £1.5m which will result in a £1m profit in the Consolidated Income Statement.

The shareholding was originally acquired in a share swap with institutional investors in August 2014 when 4.925m shares were issued in exchange for 26.3% of Prophotonix.

The cash proceeds will be used to reduce the UK senior debt with HSBC.

Enquiries:
The 600 Group PLC	Tel: [phone]
Paul Dupee, Executive Chairman
Neil Carrick, Finance Director
Spark Advisory Partners Limited (NOMAD)	Tel: [phone]
Matt Davis/ Miriam Greenwood
Cadogan PR Limited (Financial PR)	Tel: [phone]
Alex Walters
FinnCap (Broker)	Tel: [phone]
Tony Quirke/Mia Gardiner (Sales/Broking)

More information on the Group can be viewed at: www.600group.com

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

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