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Pure Wafer

  • BY: Andrew Hore |
  • POSTED: 17/03/2009 |

Pure Wafer has failed to find new funds and trading in the shares has been suspended.

At the suspension price of 2.75p a share, Pure Wafer is valued at £730,000.

A rapid downturn in the wafer reclaim market has made trading difficult. Pure Wafer is still talking to its bank as well as seeking equity finance.

In February, the silicon wafer reclaim services provider negotiated a capital repayment deferment and an additional overdraft facility as well as converting a $1.95m letter of credit into a four year loan. Net debt was £9.8m at the end of June 2008 - not including the letter of credit.

The company is no longer in bid discussions. 

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