12th Aug 2015 07:23
LONDON (Alliance News) - Pure Wafer PLC on Wednesday confirmed it will have a surplus of funds from the insurance settlement from the fire at its Swansea facility in December and said it has now sold off the site, as underlying trading remains in line with its expectations.
Pure Wafer said it has sold the fire-damaged Swansea site to Breathless LLP, without providing any financial details on the sale. The group has agreed all redundancy liabilities for the site and has settled the majority following a consultation period.
The company, which provides silicon wafer reclaim services to semiconductor companies, said its now estimates the return of surplus funds from the Swansea insurance settlement will be 140-145 pence per share. In July, the company said it would return those funds to shareholders rather than reopen the facility.
The group also said its Prescott, Arizona-based facility has continued to perform well and said its underlying profit for the year is in line with its expectations.
Shares in Pure Wafer were up 23% to 157.00 pence in early trade, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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