Photonstar LED to wind down remaining business, become cash shell

Writer, Stock Market Wire
Wednesday, January 30, 2019 - 09:56

Photonstar LED Group said it had decided to wind down its one remaining subsidiary, PhotonStar Technology, and seek shareholder approval to become a cash shell.

The company also said it had raised £175k from a share issue to provide working capital and evaluate new business opportunities.

New shares in the company were issued at 0.01p each.

At 9:56am: (LON:PSL) PhotonStar LED Group PLC share price was -0p at 0.01p


Related content

PhotonStar LED mulls funding strategies in attempt to stay afloat

PhotonStar LED said it was considering funding strategies that may include share issues, as it attempts to stay afloat.

The company said it was forced...

Tue, 09/04/2019 - 07:32


PhotonStar LED raises capital to assist cost cutting drive

Embattled LED lighting company PhotonStar LED Group said it had raised £0.1m from a share issue.

New shares in the company were issued to new...

Fri, 14/12/2018 - 07:50


PhotonStar LED places key subsidiary into liquidation

PhotonStar LED Group said it was still mulling funding options for its remaining business after its key LED subsidiary was placed into liquidation.

The subsidiary...

Tue, 20/11/2018 - 13:11


UPDATE: PhotonStar LED on the brink as key unit placed in liquidation

LED lighting supplier PhotonStar LED Group said it would hold a meeting with shareholders next month with a view to putting its fixed lighting business...

Wed, 31/10/2018 - 14:01


PhotonStar LED considers fire sale as trading deteriorates

LED lighting supplier PhotonStar LED Group said it was considering a distressed sale of a key subsidiary after trading conditions deteriorated further during October.

The...

Wed, 31/10/2018 - 09:35