Investor backing for AIM float
Sunday 22 October 1995
Two-thirds of the shareholders, including the directors, have committed themselves not to sell for two years without broker Greig Middleton's permission, and several are lining up to buy some of the pounds 4.3m of shares on offer. Mercury Asset Management and Ivory & Sime are among the backers.
The six-year-old, Fife-based firm is seeking the listing, which will value it at pounds 23.4m, to help fund expansion at a time when medical scanner manufacturers are turning more to outside component suppliers.
At the heart of its technology is a new light-weight, high-voltage transformer able to drive X-ray machines with greater precision and less risk.
Whereas ordinary transformers use coils of wire housed in heavy, bulky cabinets, Creos has replaced that with printed circuit boards that it stacks eight high.
The units can be mounted on CT scanner arms, which can continuously spiral around patients, without the reversing that stops traditional heavy power cables getting tangled. "It's small enough to be hand-carried into an X-ray room, rather than being taken in on a fork-lift truck," said David Stevenson, managing director of the company's UK arm.
Although Creos is forecasting losses of up to pounds 1.5m in the year to 30 September 1996, it expects profits of pounds 2.3m by 1998. It estimates the potential medical market for its products at more than pounds 6bn and is looking at ways to apply the technology to power lasers and industrial X-rays.
- 1 Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
- 2 The secret report that helps Israelis to hide facts
- 3 Danish TV reporter is all business up top, all party down below
- 4 Ross Burden dead: MasterChef and Ready Steady Cook star, dies aged 45
- 5 Businessman charged £75 for three small bottles of water in London hotel
The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
iJobs Money & Business
Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)
£350 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...
£500 - £560 per day: Orgtel: Java Developer FX - Banking - London - Up to £560...
£350 - £400 per day + competitive: Orgtel: My client, a leading bank, is curre...
£26000 - £30000 per annum + Benefits: Ashdown Group: Account Manager - (Produc...