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Zamano PLC (ZMNO)

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Wednesday 09 August, 2017

Zamano PLC

Potential Disposal

RNS Number : 4507N
Zamano PLC
09 August 2017
 

zamano plc

("zamano" or the "Company")

 

Potential Disposal

 

On 31 March 2017 the Company confirmed its intention to wind down the existing business lines in order to protect the cash position on the balance sheet.  The board of zamano ("Board") has considered its options for effecting this course of action in a manner that maximises the cash available for distribution to shareholders. The Board concluded that the wind down would most effectively be completed by a sale of the Company's remaining operating business and assets comprising its PSMS business. Accordingly, the Company is in discussions with a number of parties, and the Board believes it is close to executing a transaction with a preferred party.

 

Any transaction if it proceeds will be for a nominal consideration. zamano will also be required to make a cash contribution to the business to provide it with adequate working capital and in respect of  potential liabilities that may arise following completion of the sale.

 

Shareholders should note that there is no certainty that any transaction will be completed and any transaction will be subject to approval by the company's shareholders.  A further announcement will be made in due course. 

 

 

zamano plc


Colin Tucker, Interim Chairman

Tel: + 44 (0) 778 233 3888



Investec Corporate Finance


Shane Lawlor/Ian McGreal

Tel: + 353 1 421 0000



Cenkos Securities


Derrick Lee/Neil McDonald

Tel: + 44 (0) 131 220 6939

 

MCOMM Communications Consultants

 

Richard Moore

Tel: +353 1 661 3788

Mob: +353 87 241 4751

 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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