News blog
Active Energy
- BY: Andrew Hore |
- POSTED: 31/10/2010 |
Active Energy is selling its non-core business to its chief executive in order to concentrate on its voltage optimisation technology.
Kevin Baker will step down as chief executive of Active and Philip Palmer will become executive chairman.
Baker is paying £545,000 for the two gas ignition components suppliers. An initial £70,000 will be paid and the rest will be paid in annual instalments over a five year period.
They are losing money but in 2009 generated revenues of £1.84m. Active says that it will save £150,000 a year in overheads.
At 4.625p a share, Active is valued at £5.19m.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|