A listed walk-through security tech firm says its cash resources could run out within weeks or months after it ended an offer period for the company.
Abingdon-based Thruvision Group plc, giving an update on its strategic review and cash position in a notice to the London Stock Exchange, said it had terminated its formal sale process.
The review, announced in January 2025, has considered a sale of the group or one or both of its trading subsidiaries; a sale of the group’s trade and assets; a combination of the group with similar businesses; and continuing to operate as a standalone entity with additional funding.
“The board does not now believe that there is a realistic prospect of receiving an offer for the issued, and to be issued, share capital of the company,” it stated.
The option of selling the group’s trading subsidiaries remains under active consideration, said Thruvision, as discussions remain ongoing with an interested party – although there is no certainty that a satisfactory agreement will be reached in due course.
It said that trading performance over the first months of the financial year has been solid, and therefore continuing to operate as a standalone business remains a viable potential option – assuming additional funding can be secured.
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On 7th April 2025, the board announced that it anticipated the group’s available cash resources would last until approximately the end of June 2025.
Its update today read: “Given the recent solid trading and that the group is in the final stages of securing a number of sales which are expected to close in July, the board now reasonably expects the group’s available cash resources to last until approximately the end of September 2025.
“However, if none of these further sales close within the next month, the group’s available cash resources would last until approximately the end of July 2025.”