RTS in takeover talks

SALFORD-based engineer Robotic Technology Systems (RTS) confirmed it was in takeover talks late yesterday.

The company, which provides software and equipment to help businesses automate repetitive or hazardous tasks, said it was in talks, “which may or may not lead to an offer for the entire issued share capital of the company”.

The statement added: “There is no certainty that the talks will result in an offer for the company.”

Market speculation about a bid spurred the group’s shares yesterday which closed up 34% at 4.3p.

At the end of March RTS cut its final dividend after posting a full-year loss. The business saw pre-tax losses widen to £4.8m, from £4.1m last time. Full-year sales were down 6% at £10.5m.

Chairman Chris Brown said the company was still committed to returning surplus cash to shareholders while retaining “sufficient” money in the business.