Small caps round-up: AEA Tech, OpSec Security, Cello
Energy and sustainability consultancy AEA Technology has warned trading conditions remain challenging, but said good progress is being made in the implementation of its business plan. The company is able to consider all strategic options to realise value after it recently secured additional short-term funding. The firm said that while it is having on-going and constructive discussions with a number of interested parties, it does not, as previously announced, envisage that there will be offers for the share capital of the company. Shares are down 98 per cent over the past year.
Energy and sustainability consultancy AEA Technology has warned trading conditions remain challenging, but said good progress is being made in the implementation of its business plan. The company is able to consider all strategic options to realise value after it recently secured additional short-term funding. The firm said that while it is having on-going and constructive discussions with a number of interested parties, it does not, as previously announced, envisage that there will be offers for the share capital of the company. Shares are down 98 per cent over the past year.
OpSec Security Group, a supplier of anti-counterfeiting technologies and services, has agreed with JDS Uniphase to purchase its New Jersey-based holographic security business for an initial consideration of $11.5m. A further consideration of up to $4.0m could become payable depending on whether certain performance conditions during the 12 month period after completion of the acquisition are achieved. The purchase will be funded using exisiting cash resources and additional bank facilities with JP Morgan Chase.
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