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Adalta Real / DawMed Systems

  • BY: Andrew Hore |
  • POSTED: 17/01/2011 |

Adalta Real is returning to Plus-quoted.

It was previously on Plus-quoted when it was known as DawMed Systems. DawMed supplied washer disinfector dryers used to decontaminate medical devices and moved to Aim on 14 October 2002. The operating subsidiary was sold to Wassenberg for £950,000 in July 2009. DawMed reverted to being a shell and changed its name to Adalta Real. It intended to become a property adviser and investor.

The name change happened on 14 August 2009 and trading in the shares was suspended on 9 August 2010 because no acquisition had been made. Adalta had started to build up its operations but this did not satisfy Aim requirements for the implementation of the company’s investing policy. Aim wanted the company to spend all its cash in developing the new operations. There was £313,000 in the bank at the end of September 2010.

Management decided that complying with these requirements would not be in the best interests of shareholders and it would be better to wait to invest the cash.

Shareholders have voted for the move to Plus-quoted, which will happen on 24 January.

At the suspension price of 5p a share, Adalta is valued at £1.03m. 

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