Introduction of new institutional investors

RNS Number : 1475T

Solid State PLC

15 July 2015

 

15 July 2015

Solid State plc

("Solid State" or the "Company")

Introduction of new institutional investors

Solid State plc (AIM: SOLI), the AIM listed supplier of specialist industrial/ruggedised computers, electronic components, secure communications systems and battery power solutions to the electronics market, announces that, following its preliminary results released on 7 July 2015, there has been significant demand for the Company's shares, both from new and existing institutional shareholders. In order to meet this demand the founder of the Company, Gordon Comben and ex-director Bill Marsh, each of whom retired from the board at the end of last year, have agreed to sell some of their shares.

On 15 July 2015, the following shareholders and/or their wives sold shares in each case at 775 pence per share.

Name	Number of shares sold	Revised holding  of Ordinary Shares	Percentage (%) of Share Capital
Gordon Comben	750,000	900,000	10.80
Bill Marsh	500,000	650,000	7.80

Commenting on the share transactions Gary Marsh, Chief Executive, said: "Following a similar exercise last November, we are once again delighted to be attracting interest from new institutional shareholders and to have the opportunity to satisfy that demand and thereby continue to increase the free market capital of the Company."

For further information please contact:

Solid State plc	01527 830 630
Gary Marsh - Chief Executive	[e-mail]
WH Ireland (Nominated Adviser)	0117 945 3470
Mike Coe / Ed Allsopp
Walbrook PR (Financial PR)	020 7933 8780
Tom Cooper / Paul Vann	0797 122 1972
	[e-mail]

Notes to Editors:

Solid State plc (SOLI) is a leading value added group of companies providing specialist design-in and manufacturing services to those acquiring industrial/rugged computing products, battery power solutions, secure communications systems and electronic components for use in harsh environments. 

Serving niche markets in oil & gas production, medical, construction, security, military and field maintenance, Solid State acts as both a distributor to OEMs and bespoke manufacturer of specialist units to clients with complex requirements.

Headquartered in Redditch, Solid State employs over 150 staff across five sites.  Solid State operates through two main divisions: Solid State Supplies and Steatite.

Solid State was established in 1971 and admitted to AIM in June 1996.

 

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