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Zylotech rises from the ashes

Zylotech rises from the ashes

Digital surveillance system developer Zylotech (ASX:ZYL) will be re-admitted to the ASX official list tomorrow, after seven months in the dark.

The company has been delisted since August last year, when it entered voluntary administration.

At the time, the company said it was unable to secure ongoing funding for the company, and it could no longer claim to be confident it could meet its debts when they fell due.

The intervening time has seen the resignation of four directors – Jason Brown, Peter Granger, Dai-Kyu Kim and Jury Wowk – as well as company secretary Andrew Cooke. Bevan Tarratt and Patrick Burke were meanwhile appointed as directors, and Gino D’Anna as replacement company secretary.

But in an indication that the company’s troubles are behind it, Zylotech said it was ready to be re-instated to public trading after completing a deed of company arrangement and a much-needed capital raising.

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Tags securityASXzylotechvoluntary administrationSuspensionre-listing

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