Receipt of Evervision Payment
December 04 2009 - 1:00AM
UK Regulatory
TIDMDSN
RNS Number : 5683D
Densitron Technologies PLC
04 December 2009
Densitron Technologies plc
("Densitron" or the "Company")
Receipt of Evervision Payment
The Board of Densitron is pleased to announce that Evervision Electronics Co.
Limited, a Taiwanese company in which Densitron owns a 24.5% stake, has
completed a capital reduction equating to 20% of its share capital.
Following the capital reduction Densitron will continue to own 24.5% of
Evervision, but has also received a payment of NT$58,876,000 (approximately
GBP1,100,000). These funds will be used to repay bank borrowings and fund
working capital.
Over the last few years the Company has been steadily reducing its level of debt
and following the repayment of borrowings from the funds received the Company's
gearing will reduce from approximately 25% to approximately 9%.
Change of name of Nominated Adviser and Broker
The Board has been informed that, with effect from 26 November 2009, the
Company's nominated adviser and broker has changed its name from Hanson
Westhouse Limited to Westhouse Securities Limited.
Further information:
+------------------------------------+------------------------------------+
| Densitron | Westhouse Securities |
| Grahame Falconer / Tim Pearson | Tim Metcalfe / Martin Davison |
| Tel: 0207 648 4200 | Tel: 020 7601 6100 |
| | |
+------------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFGMGZVFMGLZM
Densitron Tech. (LSE:DSN)
Historical Stock Chart
From Jul 2024 to Jul 2024
Densitron Tech. (LSE:DSN)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Densitron Tech. (London Stock Exchange): 0 recent articles
More Densitron News Articles