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ZTEST Electronics Inc. reports developments tied to its electronic manufacturing services business through wholly owned subsidiary Permatech Electronics Corporation. Company updates commonly cover fiscal results, revenue trends, gross margin, cash flow, working capital, and order activity for printed circuit board assembly, materials management, and testing services.
News also includes capital-structure and governance actions such as normal course issuer bids, stock option grants, annual meeting results, and investor presentations. Permatech serves customers across medical, power, computer, telecommunications, wireless, industrial, trucking, wearables, and consumer electronics markets from an ISO 9001:2015 certified facility in North York, Ontario.
ZTEST Electronics Inc. has appointed Suren Jeyanayagam as the new President of its subsidiary Permatech Electronics Corp. following the retirement of John Perreault. Jeyanayagam brings 25 years of experience at Permatech, including his recent role as Vice President of Manufacturing. The transition is expected to be smooth, as Perreault has been training Jeyanayagam for this leadership position. This change aims to ensure continuity and stability in Permatech's operations in electronic manufacturing services.
ZTEST Electronics Inc. announced the re-election of its Board of Directors and the re-appointment of its auditors at the annual shareholder meeting held on September 30, 2022. The company also granted 1,275,000 stock options to its directors and officers, exercisable at $0.10 per share for a period of five years. ZTEST operates through its subsidiary, Permatech Electronics Corp., providing electronic manufacturing services from its 20,000 sq ft facility in Ontario, Canada, catering to various industrial sectors.
ZTEST Electronics has completed the acquisition of an additional 2.1% interest in Conversance Inc., bringing its total ownership to 27.39%. The purchase involved the issuance of 1,250,000 Convertible First Preferred Shares Series 2, convertible into common shares upon a specific investment trigger by June 30, 2022. If the trigger isn't met, the Preferred Shares are redeemable for $1.00. Additionally, ZTEST secured an extension to acquire 75,000 Class A Common Shares of Conversance for $1 million by June 30, 2023.
ZTEST Electronics Inc. announced an agreement to acquire an additional 25,000 Class A Common Shares of Conversance Inc., increasing its equity interest to 27.39%. This purchase will be made through the issuance of 1,250,000 Convertible First Preferred Shares Series 2, convertible into common shares if a specified Triggering Event occurs by June 30, 2022. ZTEST also received an extension until June 30, 2023, to acquire an additional 75,000 shares of Conversance for $1 million. The completion of these transactions is contingent upon regulatory filings.