LONDON: Thruvision Group plc (AIM: THRU), an international provider of walk-through security technology, announced a strategic review and the potential launch of a formal sale process aimed at maximizing value for shareholders, employees, and other stakeholders.
Despite advancements in technology and efforts to bolster sales capabilities following the divestment of the Digital Barriers video division in 2017, the Board believes further resources are required to scale the adoption of the Group’s technology.
The review will consider a range of strategic options, including raising additional equity capital, seeking a strategic partner, licensing technology to third parties, and the sale of the company under a formal sale process in accordance with the Takeover Code.
The review is driven by significant near-term opportunities in Entrance Security and Retail Distribution, valued at approximately £15 million for the financial year ending March 31, 2026. While discussions with potential customers continue, the Group has yet to receive confirmation of purchase orders.
With current cash balances at approximately £1.5 million and an undrawn overdraft facility of £0.95 million, the Board is preparing for all potential outcomes. The Group’s cash resources are projected to last until the end of May 2025 if no orders are secured.
The Company has appointed Raymond James Financial International Limited and Investec Bank plc as joint financial advisers for the formal sale process. Interested parties are invited to contact Raymond James to express interest and potentially participate in the strategic review.
The Board reserves the right to alter or terminate the process at any time and will keep the market updated on developments. As of now, Thruvision is not in discussions with any potential offerors.
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