Since January 2010, the Company has focused on rebuilding its financial resources to ensure its ability to continue trading for the foreseeable future and to support return of capital payments to shareholders.
In July 2010, the Company sold Oxonica Materials Inc. to Cabot Corporation, generating nett proceeds of approximately US$4 million. Since that time, return of capital payments have been made to shareholders at the level of 1.9p per share, paid in two tranches.
The Company now has sufficient cash resources to sustain operations in order to benefit from a licence agreement with Croda Europe Ltd. and to see the potential benefits from a licence agreement with BD (formerly Becton, Dickinson) in the USA
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