Filtronic in shares move over Isotek

The shares have been given to non-accepting Isotek shareholders, who have received a compulsory acquisition notice.

Shipley-based Filtronic recently bought Leeds wireless firm Isotek for 11m in a move that will rebuild its business in Yorkshire.

Filtronic, whose point-to-point technology links mobile phone base stations, believes the Isotek deal will be a catalyst for growth.

Filtronic's shares closed up 0.5p at 38.5p last night.

Last Friday they fell more than 11 per cent to 38p, extending Thursday's drop, after the firm said a key customer's buyout could damage sales.

Filtronic's biggest point-to-point customer Nera Networks has been bought by Israel's Ceragon Networks, a rival maker of point-to-point systems. The company said that as Ceragon already makes point-to-point systems it is braced for a "potentially significant reduction" in point-to-point sales.