600 Group disposes of ProPhotonix shareholding
AIM-listed 600 Group has sold off its entire holding in laser diode and LED systems manufacturer ProPhotonix for £1.5m, which results in a £1m profit in the consolidated income statement.
600 Group
2.65p
17:30 25/03/24
0.00%
0.00p
FTSE AIM All-Share
738.36
16:54 04/10/24
n/a
n/a
Industrial Engineering
12,279.38
17:14 04/10/24
-0.63%
-78.16
The shareholding was originally bought in a share swap with institutional investors in August 2014 when 4.925m shares were issued in exchange for 26.3% of ProPhotonix.
600 said that proceeds from the disposal will be used to reduce the UK senior debt with HSBC.
At 1545 BST, the shares were up 7.9% to 15.65p.