19 February 2025
Zytronic plc
("Zytronic" or the "Company" and its subsidiaries)
Conclusion of Sale Process and Asset Wind-Down
Further to its announcement on 14 November 2024, the Company today announces that the Board has concluded the sale process for its trading subsidiary, Zytronic Displays Limited ("ZDL") and its underlying assets. Despite engaging with multiple counterparties, the Company was unable to agree on suitably attractive terms for a transaction.
As a result, the Board, in consultation with FRP Advisory Trading Limited ("FRP Advisory") will commence the orderly wind-down of the Group's assets. At this stage, there can be no guarantee as to the level of returns, that may be available to shareholders.
As at 31 January 2025 the group's net cash position was broadly unchanged from the figure provided at 14 November 2024, but excludes wind-down costs. FRP Advisory is in late stages of finalising its outcome statement which will provide shareholders with an indicative range of returns available in an orderly wind-down. Further announcements will be made in coming days, as required.
Enquiries:
| Zytronic plc Christopher Potts, Non-Executive Chairman Claire Smith, Chief Financial Officer
| 0191 414 5511 |
| Singer Capital Markets (Nominated Adviser and Broker) Alex Bond, Samed Ethemi (Investment Banking)
| 020 7496 3000 |
Notes to Editors
The Company's trading entity Zytronic Displays Limited ("ZDL") is an established developer and manufacturer of a range of internationally award-winning optically transparent interactive touch sensor overlay products for use with electronic displays in industrial, self-service and public access equipment.
ZDL has continually developed process and technological know-how and intellectual property since the late 1990's around two projected capacitance ("PCAP") sensing methodologies; trademarked by it as PCT™ ("Projected Capacitive Technology") and MPCT™ ("Mutual Projected Capacitive Technology"), in respect of which 20 internationally granted patents are held. As part of this the Company has invested in and developed an advanced electronic PCAP controller, the ZXY500, which incorporates a specialist Application Specific Integrated Circuit ("ASIC") specified and owned by Zytronic, and bespoke firmware on the controller processor.
ZDL's PCAP sensing solutions are readily configurable and embedded in a laminate core which offers significant durability, environmental stability, and optical enhancement benefits to meet system-specific design requirements.
The Company is headquartered at Blaydon-upon-Tyne in the United Kingdom. ZDL operates from this site, providing its manufactured products globally through a number of sales channel partners. ZDL differentiates itself from others in the touch eco-system as it offers a complete one-stop solution including processing internally of the form and factor of glass and film substrates, the assembly of the associated touch overlay products, in environmentally controlled cleanrooms to customer's specific requirements and the development of the bespoke firmware, software and electronic hardware which comprise the controller that links the manufactured touch interactive overlays to a customer's integrated systems and product.
For more information about ZDL's technologies and products, and the Company please see www.zytronic.co.uk
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