3D Diagnostic Imaging Abandons Plans To Leave Stock Exchnage
Scottish firm 3D Diagnostic Imaging has scrapped plans to leave the Alternative Investment Market following confirmation of plans for mining investor, Donald Strang to take control of the company and turn it into an “investment vehicle.”
Mr Strang is planning to hand over control of subsidiary CarieScan, which is based in Dundee, to its current investors with a cash injection worth £100,000. Mr Strang is planning to raise £114,000 from new investors.
The 3D Diagnostic Imaging board said that the decision had been made following discussions about alternatives to de-listing the company in favour of approaches which would benefit share-holders more. Chief executive Graham Lay and chairman David Snow will step down from the board once the company has been transferred to Mr Strang; finance director Oliver Cooke is expected to stay in his position at the firm.
Last month, directors revealed planned to cut costs by de-listing the company; however, the new deal means that CarieScan assets will now be gifted to shareholders as a private newco. The value will be nominal at this stage, but shareholders will inherit shares in the private newco, which are representative of their current stake.
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