|
Zyzygy sells stake for £500k |
|
Written by Business Weekly
|
|
Thursday, 11 January 2007 |
|
Chelmsford-based investor, Zyzygy plc, sold 20.1 per cent of MarineTrack Ltd, a security alert system manufacturer, for approximately £500k to existing MarineTrack shareholder, Billam AG.
Zyzygy had increased its holding in MarineTrack to 69.94 per cent at a “favourable” price with a view to a profitable exit at a later stage. However, changes in the interpretation of accounting rules which would have required a majority investment in a company to be consolidated in the Zyzygy’s accounts prompted the company to make the disposal. |
Archive 
Delicious
Digg
NewsVine
Reddit
Technorati
