Tanfield Group plc (GB:TAN) has released an update.
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Tanfield Group Plc, a passive investment company, disclosed its final results for 2023, indicating a maintained valuation of its 49% stake in Snorkel International at £19.1 million, despite ongoing US legal proceedings expected to go to trial in early 2025. The company reported a cash balance of £3.5 million at year-end and highlighted the settlement of UK Proceedings with a £6.9 million receipt. With improved sales post-Covid-19, Tanfield is optimistic about Snorkel’s future performance and is actively monitoring the investment for potential shareholder returns.
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