ManufacturingDeals
The largest shareholder in Zytronic plc is seeking to block the solvent liquidation of the historic North East tech firm.
A boardroom battle has erupted after Tom Spain, who owns 19% of shares in the London-listed business, forced an emergency shareholder vote to appoint himself and colleague Glen Arnold as directors of the company.
Gateshead-headquartered Zytronic, a manufacturer of touch overlay sensors for interactive displays dating back to the 1940s, employs more than 100 people.
In consultation with FRP Advisory Trading Limited, it is winding down operations after considering several options including solvent liquidation or a sale following a strategic review. The company appointed a new chair in 2023 in a bid to…