4th Dec 2009 07:00
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 £1,100,000). 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:
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Densitron Grahame Falconer / Tim Pearson Tel: 0207 648 4200 |
Westhouse Securities Tim Metcalfe / Martin Davison Tel: 020 7601 6100 |
Related Shares:
DSN.L