Following a dispute between stakeholders over development funding, the shareholders of Solid State Logic Holdings Limited have agreed to offer the company and its subsidiaries for sale.
The current status, therefore, is that the business is being offered for sale. A number of expressions of interest have been received and the goal is to conclude a sale before March 31.
Grant Thornton UK LLP has been retained as professional advisers by the group’s shareholders to assist and advise them on the sale of all the group’s share capital.
A confidential Information Memorandum is being issued to a restricted number of potential purchasers. This document is otherwise confidential at this time.
Solid State Logic has issued this statement: “Both the quality of our products and their rate of development have never been better. The shareholders have been pleased with new revenues built through diversification and new investment to boost this activity had been under discussion. Existing shareholders may well re-bid for the business under a new financial structure.”
The group continues to trade as normal and benefit from the growing popularity of its new products and expanded markets. The C100 Digital Broadcast Console is showing excellent year-on-year gains, and the AWS 900 Analogue Workstation System is the fastest-selling music console ever produced by SSL. SSL's clients can continue to expect the company's usual benchmark quality products and support.