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.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.