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Trackwise Designs (TWD)

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Thursday 02 April, 2020

Trackwise Designs

Completion of Acquisition

RNS Number : 4981I
Trackwise Designs PLC
02 April 2020
 

TRACKWISE DESIGNS PLC

("Trackwise", the "Company" or the "Group")

 

Completion of Acquisition

 

The Board of Trackwise Designs plc, provider of specialist products using printed circuit technology, is pleased to announce that further to the announcement on 13 March 2020 and the passing of all of the Resolutions put to Shareholders at the General Meeting held on 30 March 2020, the Acquisition of Stevenage Circuits Limited ("SCL") has now completed.

 

Philip Johnston, Chief Executive Officer of Trackwise, commented: "We are delighted to complete this transaction, which will be a key catalyst for Trackwise. We welcome the SCL team, and look forward to updating shareholders with the progress we make over the coming months."

 

Defined terms used in this announcement have the meaning (unless the context otherwise requires) as set out in the Circular (available at www.trackwise.co.uk).

 

Enquiries:

 

Trackwise Designs plc 

+44 (0)1684 299 930

Philip Johnston, CEO   

www.trackwise.co.uk

Mark Hodgkins, CFO 

 

 

 

finnCap Ltd

+44 (0)20 7220 0500

NOMAD and Broker

 

Ed Frisby / Matthew Radley - Corporate Finance 

Andrew Burdis / Manasa Patil - ECM

 

 

 

Alma PR

+44 (0)20 3405 0205

Financial PR and IR

 

Caroline Forde / Josh Royston / Kieran Breheny

 

 

Notes to editors

Trackwise is a UK-based manufacturer of specialist products using printed circuit technology.

 

The full suite includes: Improved Harness Technology TM ("IHT"), Microwave and RF, Short Flex, Flex Rigid and Rigid multilayer products.

 

IHT uses a proprietary, patented process that Trackwise has developed to manufacture multilayer flexible printed circuits of unlimited length. While the technology has many applications, the directors expect that one of its primary uses will be to replace traditional wire harness in a variety of industries.

 

The Company manufactures on two sites, located in Tewkesbury and Stevenage (following the acquisition of Stevenage Circuits Ltd in April 2020). It serves customers in Europe, North America, Asia and Australia.

 

Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker TWD. For additional information please visit www.trackwise.co.uk.

 


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