PV Crystalox Solar PLC Update on Group Strategy (8387O)
February 01 2019 - 5:50AM
UK Regulatory
TIDMPVCS
RNS Number : 8387O
PV Crystalox Solar PLC
01 February 2019
PV Crystalox Solar PLC
Update on Group strategy
PV Crystalox Solar plc (the "Group") announces that following an
extensive review of the strategic options for the future of the
Group, the Board has concluded that returning a large proportion of
available cash, as part of an orderly resolution of the Group's
affairs, would be in the best interest of shareholders rather than
the pursuit of acquisitions. The Board expects to be in a position
to set out a detailed proposal and timetable at the time of the
announcement of the preliminary results for 2018 which is expected
on 21 March. Operations at the Group's subsidiary in Germany
continue as good progress has been achieved using existing
capabilities to develop new business opportunities in the cutting
of non-silicon materials. A sale to a third party or a transfer of
the business to the existing management team remains under
consideration.
Enquiries:
PV Crystalox Solar PLC +44 (0) 1235 437160
Iain Dorrity, Chief Executive Officer
Matthew Wethey, Chief Financial Officer and Group Secretary
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