Cookson to review strategic options

UK supplier of materials for the electronics and glass industries Cookson, reported that it is reviewing its strategic options but did not comment on rumours that the company has pulled a rights issue…

UK supplier of materials for the electronics and glass industries Cookson, reported that it is reviewing its strategic options but did not comment on rumours that the company has pulled a rights issue. Shares in the group fell 7% to 48.5p after reports that it withdrew a debt-cutting GBP 400 million rights issue planned for the end of June because of weak market conditions. As of December, Cookson“s net debt was GBP 750 million. Cookson reiterated that it had renegotiated its banking facilities in December 2001.