News blog

Sarantel Group

• BY: Andrew Hore |
• POSTED: 25/11/2013 |

Sarantel Group, which used to make miniature antenna, has raised £150,000 at 0.03p a share and become a shell.

Sarantel placed its main subsidiary in administration after immediate repayment of its debt was demanded. Japanese ceramic and electronic component manufacturer Maruwa acquired plant, machinery and intellectual property of Sarantel at the beginning of October.

The investing policy of the shell is focused on natural resources.

David Lenigas and Donald Strang, which have a long list of Aim directorships, have joined the board. Oliver Leisten, Philip David, Nicola Malyon and Geoff Shingles have resigned. David Wither remains as a non-executive director.

There were net liabilities of £2.69m at the end of June 2013. 

At the suspension price of 0.06p a share, Sarantel is valued at £366,000. The shares were originally suspended on 29 May.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2013_50.pdf