Densitron Technologies PLC Trading Statement & Result of AGM (4029H)

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RNS Number : 4029H

Densitron Technologies PLC

19 June 2013

Densitron Technologies plc

Trading update and result of AGM

Densitron Technologies plc ("Densitron" or the "Company" or the "Group") announces that, at the Company's annual general meeting held earlier today, all of the resolutions proposed to shareholders were duly passed and today provides an update on its trading activities.

Displays Business

The difficulties in closing business that were encountered during the second half of 2012 have continued into the first half of 2013. At present the level of sales are in line with those achieved in 2012. A number of projects have moved forward and, while noting the ongoing protractions in closing business, we expect to see revenues from them during the second half of the year and into 2014.

Land at Blackheath

We are continuing with the strategy outlined in the 22 May 2013 Preliminary Results announcement for the site at Blackheath. Having secured the certificate of lawful use for the clubhouse and land we are now proceeding with an application to replace the clubhouse with a residential building of an equivalent size.

Claim against the Company

As also explained in the 22 May 2013 Preliminary Results announcement we are working to find a solution on the writ that the Company received in relation to the property occupied by a former Group company. The situation remains largely unchanged and we continue to work to bring this matter to a resolution as soon as possible.

Outlook

Having re-positioned the business with the introduction of our internally developed products and services, I am confident that the outlook for the business is positive and I expect the result for the year to exceed that achieved in 2012. With the newly developed products and services and the expansion of the business' global footprint I am confident that the medium to longer term prospects for the business are good and would expect to see increasing orders being booked in the second half of the year to support this expectation.

Enquiries:

 
Densitron                        Westhouse Securities 
 Grahame Falconer / Tim Pearson   Martin Davison/ Jonathan Haines 
 Tel: [phone]               Tel: [phone] 
 

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