The company also had a market capitalisation of £25 million. Parent company Advance Nanotech, which formed ADT in 2006, owns 45 million shares in the company.

London-based ADT owns seven subsidiaries and specialises in devices for flat panel and projection displays, plastic electronics and flexible displays. It identifies and funds university-based research, in exchange for the exclusive right to commercialise the IP, and has links to Cambridge University and Bristol University.

ADT is aiming to commercialise nine products within 36 months. It is also looking to make acquisitions.

The company made a loss after tax of £778,000 for the period January to August 2006.

St Helen’s Capital was corporate adviser to the company, while McFaddens acted as solicitor. Winterflood Securities is ADT’s market maker.