Paul Macleur and other members of the management team of Camtronics Vale Limited (buyers) entered into an agreement to acquire Camtronics Vale Limited from PhotonStar LED Group PLC (AIM:PSL) in a management buyout transaction for £0.61 million on January 30, 2018. The consideration will be paid in cash with £0.04 million payable at completion, a further £0.01 million payable by March 31, 2018 and £0.1 million to be received over a 24 month period, in equal monthly instalments of £4,166.66 starting on February 28, 2018. In addition, £0.46 million of intercompany and external owed by Camtronics Vale Limited, will be transferred to buyers. For the year ended December 31, 2017, Camtronics Vale Limited reported £1.75 million of revenue and a loss after tax of £0.01 million. Camtronics Vale Limited had total assets of £1.78 million as on December 31, 2017. James McKenzie, the sole Director of Camtronics Vale Limited, will stand down from the Board of Camtronics Vale Limited with immediate effect. PhotonStar LED Group will use the proceeds from the transaction to fund the continued development of the halcyon cloudBMSTM platform. The monthly instalments will also provide PhotonStar with additional working capital. The impact of the transaction on the balance sheet of PhotonStar LED Group is expected to be minor. David Hignell and Jamie Spotswood of Northland Capital Partners acted as financial advisors for PhotonStar LED Group while John Howes and Rob Rees of Northland Capital Partners acted as brokers. Paul Macleur and other members of the management team of Camtronics Vale Limited (buyers) cancelled the acquisition of Camtronics Vale Limited from PhotonStar LED Group PLC (AIM:PSL) in a management buyout transaction on January 30, 2019.