Company information – July 2017
Oxonica is an advanced materials business with its headquarters in Haddenham (UK).
The Company has an ongoing licence agreement with BD (formerly Becton, Dickinson) related to bio-diagnostic products. The latest information provided to the Company suggests that royalties will not commence before end-2017 at the earliest. There is no guarantee that a significant royalty stream will develop.
The Company also has a licence agreement with Croda Europe Ltd. in respect of UV protection products which is now generating a royalty stream.
The cash position of the Group is now stable following two return of capital payments to shareholders. The cost base of the Company has been reduced to a very low level.
The Board’s primary objective is to continue to seek ways to return surplus capital to shareholders as tax efficiently as possible, based on returns from these licence agreements.