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Vphase

  • BY: Andrew Hore |
  • POSTED: 07/01/2014 |

Vphase came out of administration on 27 December but trading in the shares remains suspended.

BDO was appointed administrator in early September and it subsequently placed Vphase in a Company Voluntary Arrangement (CVA).

Trading in VPhase shares was suspended on 20 June at 0.17p, which valued the company at £2.43m. Vanda Murray and Duncan Sedgwick both resigned from the board in the autumn.

Last October, Southern Fox Investments Ltd acquired the intellectual property to the voltage optimisation technology and the tooling was sold to Bristol Bluegreen Ltd. The disposals raised £200,000 to pay off creditors.

The £2.57m carrying value of Flowgroup’s 25.6% stake in VPhase has already been written off.

Shareholders will be updated on the future of the shell. 

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