Microfiche and electronic filing equipment maker Memcom International Holdings Plc is making a fully underwritten seven for five rights issue at 10 pence to raise UKP1.7m, and Stanford Ovshinsky’s Energy Conversion Devices Inc in Troy, Michigan, has agreed to cut the royalties Memcom has to pay on its technologies, and to waive UKP147,000 owing, in return for 500,000 shares and an 18 month option on a further 500,000 shares at 17 pence a time. The company also plans to change its name to Telford Group Plc, and to reduce the nominal value of its shares to 2.5p from 10p. The company made a pre-tax loss of UKP1m in the year to last April, down from a loss last time of UKP1.7m, and pre tax losses for the six months to October are put at UKP381,000.
