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The 600 Group Plc - Disposal of ProPhotonix shareholding
Hamilton, Bermuda – August 31, 2017 – In a filing with the Bermuda Stock Exchange (“BSX”), The 600 Group Plc (the "Company”), today announced the disposal of ProPhotonix shareholding. The filing stated:
The Board is pleased to announce that it has disposed of its entire holding in ProPhotonix Limited the AIM listed laser diode and LED systems manufacturer and distributor for £1.5m which will result in a £1m profit in the Consolidated Income Statement.
The shareholding was originally acquired in a share swap with institutional investors in August 2014 when 4.925m shares were issued in exchange for 26.3% of Prophotonix.
The cash proceeds will be used to reduce the UK senior debt with HSBC.
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Enquiries: |
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The 600 Group PLC |
Tel: 01924 415000 |
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Paul Dupee, Executive Chairman |
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Neil Carrick, Finance Director |
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Spark Advisory Partners Limited (NOMAD) |
Tel: 020 3368 3553 |
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Matt Davis/ Miriam Greenwood |
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Cadogan PR Limited (Financial PR) |
Tel: 020 7499 5002 / 07771 713608 |
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Alex Walters |
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FinnCap (Broker) |
Tel: 020 7600 1658 |
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Tony Quirke/Mia Gardiner (Sales/Broking) |
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More information on the Group can be viewed at: www.600group.com
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.