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Oxford Advanced Surfaces Group

  • BY: Andrew Hore |
  • POSTED: 07/01/2013 |

Robert Quested has built up a 9.47% stake in surface nanotechnologies developer Oxford Advanced Surfaces Group (OAS)

Quested should know a lot about the business even though he is not a director. Quested is the second largest shareholder in ORA Capital Partners, which was involved in the reversal of OAS into an Aim shell called Kanyon back in December 2007 and remains its largest shareholder with 25.5%. ORA was the major shareholder in Kanyon and it subscribed for a further 12m shares at 25p each t the time of the reversal. Richard Griffiths, the majority shareholder of ORA, owns 5.6% of OAS and fellow ORA director David Norwood owns. 5%.

Quested went above 3% on 24 September 2012 and apart from one small reduction in December he has been adding to his stake since then. Adrian Meldrum was appointed chief executive on 1 October last year. He is a former board director of semiconductor wafers maker IQE.

The share price rose ahead of Meldrum’s appointment but has since lost most of those gains. At 10.12p a share, OAS is valued at £20m. There was still £4.99m in the bank at the end of June 2012, following an £816,000 from operating activities in the first half of 2012. R&D charges had decreased from £535,000 to £474,000.

OAS has been making progress with the commercialisation of its VISARC anti-reflective coating technology. A development agreement has been signed with a global company. Scale manufacturing tests should be near to completion. The technology can be used in displays, spectacle lenses and solar.

The Onto technology, which reacts with surfaces to form a permanent bonded layer enabling specific functions to be added to that surface, has been trialled by some customers.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2012_39.pdf

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