14th Jan 2025 21:23
Thruvision Group PLC - Abingdon, England-based walkthrough people-screening technology - Decides to conduct a formal strategic review, including the launch of a formal sales process. Thruvision is therefore now considered to be in an 'offer period' as defined by the Takeover Code. Stresses not currently in talks regarding a possible offer. Believes further resources are required to advance the adoption of the group's technology by customers and operate at greater scale. Other options being considered include seeking a strategic partner to support its growth; raising additional equity capital; and licensing its technology and intellectual property to a third party. The company notes that, as announced in late October, it "has significant near-term opportunities notably in Entrance Security and Retail Distribution" with a potential contract value of around GBP15 million for the year ending March 31, 2026. Says it has been in "regular ongoing discussions" with the potential clients, with "significant milestones" scheduled for the fourth quarter of the current financial year. Adds however that it "does not have confirmation from these potential customers as to when purchase orders...will be entered into, if at all". If the orders do not materialise, it expects its cash resources to last roughly until the end of May. Read More
