Traction Technology is liquidating its main subsidiary.
The company has limited cash resources and has decided to stop supporting Traction Technology (UK) Ltd, which is developing hybrid engine technology. This subsidiary will be placed in creditors, voluntary liquidation.
The company’s shareholders voted for the cancellation of the Aim quotation on 10 July. The shares are trading at 0.3p each, valuing the company at £110,000.
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