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  • BY: Andrew Hore |
  • POSTED: 01/06/2010 |

Shareholders in Timestrip have voted to wind up the company.

There was a proposal for Timestrip to become a shell called Mungo Trading following the disposal of its smart label technology business to a consortium of existing shareholders. There is potential deferred consideration of up to 65,000. Shareholders owning 88% of the shares voted were against Timestrip becoming a shell. Around one-fifth of the share capital was voted. 

Fisher Partners have been appointed as liquidator. The company previously estimated that shareholders could receive a distribution of 0.03p a share if Timestrip were wound up.

The shares were suspended on 19 April 2010 at 0.3p each and the original flotation price adjusted for consolidation was 750p.

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