TyraTech in need of extra funding, shares plummet

Shares in pest control firm TyraTech took a tumble on Wednesday after it revealed that it has to secure additional funding as a result of unexpected order problems with its US partner.

Shares in pest control firm TyraTech took a tumble on Wednesday after it revealed that it has to secure additional funding as a result of unexpected order problems with its US partner.

Terminix, which has been TyraTech's North American partner since October 2010, has now suspended the distribution of the SafeShield product. While TyraTech assures that this was not a product performance-related decision, Terminix has decided to wind down its existing inventory to "re-calibrate its product strategy".

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