Unsolicited offer made for Matrix Comms
Chairman warns shareholders
Matrix Communications chairman Alan Watkins has warned the company's shareholders that the firm could be sold, having received an unsolicited offer for the business.
In February, Matrix sold its Equip business to Horizon so it could concentrate on sales.
In a statement to the Stock Exchange, Watkins said: "In the last few weeks Matrix has received an unsolicited offer to acquire its integration businesses from an international trade buyer with minimal UK presence. These businesses, which exclude the Fujin mobile content filtering business, are the main sources of revenue and profit for the Matrix Communications Group, and in the year to 31 October 2005 had proforma revenue of £35.2m and operating profit contribution of £4.1m."
Watkins said discussions are still underway, and may come to nothing, but the deal had "considerable industrial logic".
Watkins also updated on Matrix trading and, although overall the firm is on target, there are problems with its mobile porn blocker Fujin. According to the statement, business was down because of slower than expected take up of services by Vodafone.
The firm also announced Matthew Darling and Michael Frank are leaving the board of directors.
Read the whole statement here. ®