Built Cybernetics offloads loss-making UK subsidiary

(Sharecast News) - Built Cybernetics announced the completed disposal of its loss-making subsidiary Anders + Kern UK on Wednesday, to the unit's managing director Barrie Meehan for a nominal sum. The AIM-traded smart buildings group, formerly known as Aukett Swanke, said the sale removes a persistently loss-making entity from the business.

Anders + Kern posted a total comprehensive loss of £0.34m and ended the 2024 financial year with net liabilities of £0.05m, with further losses recorded in the year ended 30 September 2025.

Because Meehan is a statutory director of the subsidiary, the deal constituted a related-party transaction under the AIM rules.

Built Cybernetics said its board, having consulted with its nominated adviser Canaccord Genuity, considered the terms of the disposal "fair and reasonable" as far as shareholders weer concerned.

At 0853 GMT, shares in Built Cybernetics were flat at 1.85p.

Reporting by Josh White for Sharecast.com.