Dialight PLC Non-core disposal
July 29 2024 - 2:00AM
RNS Regulatory News
RNS Number : 1738Y
Dialight PLC
29 July 2024
Dialight
plc
("Dialight" or the "Group")
Non-core
disposal
29 July 2024
Dialight plc (LSE: DIA.L), a
global leader in LED lighting for heavy industrial applications,
today announces that it has entered into an
agreement for the sale of its business manufacturing signal lights
used in traffic, pedestrian and railroad management in North
America (the Traffic
Business) to Leotek Electronics USA
LLC and realising gross cash proceeds of $5.8m. After
transaction and other costs, net cash proceeds are $5.5m which will
be used to reduce group indebtedness.
The Business had previously been
identified as non-core.
The gross value of assets sold is
$nil and profits attributable to the Business in the twelve-month
period to 31 December 2023 of $nil.
Dialight will continue to
manufacture products under licence for the acquirer for a period of
up to 15 months from the completion date. Thereafter, the
transaction will allow Dialight to focus management and production
capacity on its core activities.
Contacts:
Dialight plc
Tel: +44 (0)203 058 3542
Steve Blair, CEO
Carolyn Zhang, CFO
About Dialight:
Dialight (LSE: DIA.L) is a
global leader in sustainable LED lighting for industrial
applications. Dialight's LED products are providing the
next generation of lighting solutions that deliver reduced energy
consumption and create a safer working environment. Our products
are specifically designed to provide superior operational
performance, reliability, and durability, reducing energy
consumption and ongoing maintenance, and achieving a rapid return
on investment. The company is headquartered in the UK, with
the main operations in
the USA, UK, Mexico, Malaysia and Singapore, Australia.
To find out more about Dialight,
visit www.dialight.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact
rns@lseg.com or visit
www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our
Privacy
Policy.
END
DISEASXNADDLEEA
Dialight (LSE:DIA)
Historical Stock Chart
From Nov 2024 to Dec 2024
Dialight (LSE:DIA)
Historical Stock Chart
From Dec 2023 to Dec 2024