News blog
Molectra Group Ltd
- BY: Andrew Hore |
- POSTED: 24/12/2009 |
Molectra Group Ltd is selling its business manufacturing products from recycled tyre rubber to its original owner and becoming a shell.
The Molectra Australia business made a loss of A$8.6m in the nine months to September 2009. A strategic review decided that the business “did not have sufficient prospects of success to warrant the company’s continuing investment“.
Interests related to founder John Dobozy are taking on the business in return for 26.9m shares they own in Molectra Group Ltd - that is 15.5% of the company‘s share capital. The company is retaining and trying to sell Molectra Australia to someone interested in its tax losses.
The company is in talks to acquire businesses in in the consumer retail and/or manufacturing sector.
At 0.75p a share, Molectra Group Ltd is valued at £1.3m, although that includes £202,000 worth of shares being returned to the company.
© 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 This material may not be published, broadcast, rewritten or redistributed.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
|