600 Group PLC Disposal of ProPhotonix shareholding (4702P)

TIDMSIXH

RNS Number : 4702P

600 Group PLC

31 August 2017

The 600 Group Plc

("The Company")

Disposal of ProPhotonix shareholding

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 GBP1.5m which will result in a GBP1m 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.

 
 Enquiries: 
------------------------------  --------------------------- 
 The 600 Group PLC               Tel: 01924 415000 
------------------------------  --------------------------- 
 Paul Dupee, Executive 
  Chairman 
------------------------------  --------------------------- 
 Neil Carrick, Finance 
  Director 
------------------------------  --------------------------- 
 Spark Advisory Partners         Tel: 020 3368 3553 
  Limited (NOMAD) 
------------------------------  --------------------------- 
 Matt Davis/ Miriam Greenwood 
------------------------------  --------------------------- 
 Cadogan PR Limited (Financial   Tel: 020 7499 5002 / 07771 
  PR)                             713608 
------------------------------  --------------------------- 
 Alex Walters 
------------------------------  --------------------------- 
 FinnCap (Broker)                Tel: 020 7600 1658 
------------------------------  --------------------------- 
 Tony Quirke/Mia Gardiner 
  (Sales/Broking) 
------------------------------  ---------------------------

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 31, 2017 08:40 ET (12:40 GMT)

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