News blog

ZTC Telecommunications

  • BY: Andrew Hore |
  • POSTED: 07/11/2008 |

ZTC Telecommunications shares have been suspended due to a “management control issue”.

There is no information on exactly what this means. Figures for the year to June 2008 still have not been released. At the suspension price of 2.75p a share, ZTC is valued at £2.99m.

Earlier in the day the China-based mobile phones manufacturer had announced it was going to raise extra working capital by getting its suppliers to sell components it had already paid for.

ZTC will receive 80% of the £1.668m of prepaid components held by two suppliers when they are sold to other customers. This could raise up to £1.335m for the company. The maximum loss would be £333,000.

If the components are not sold they will be used by ZTC in its production but it will take longer to generate the cash that is required for working capital for the business.

ZTC has been hit by the slowing of mobile phone sales in China.

ZTC joined Aim on 21 March 2007. It was valued at £18.7m at the flotation price of 20p a share.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds