# Seimtec Limited (SC299735)

> Why UK company SC299735 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/SC299735

- **Status:** In administration
- **Administration began:** 2008-07-29
- **Administrators:** Gordon Malcolm Maclure, Matthew Purdon Henderson
- **Administrators' firm:** BDO
- **Formerly:** Pacific Shelf 1371 Limited
- **Incorporated:** 2006-03-28
- **Location:** Aberdeen
- **Industry:** 7487

## Why it went into administration

- Funding withdrawn / unable to refinance

## From the administrators' statement

The company was incorporated on 28 March 2006 and changed its name to Seimtec on 25 July 2006 which was shortly before its acquisition on 1 August 2006 of the business and assets of SPS International Limited (“SPS”) which related to the removal of hydrocarbons from sohds and hquid waste and which had the trademark name of the Inpro System The company traded from leased premises at Badentoy Industrial Park, Portlethen, Aberdeen

The technology for the Inpro System had previously been invented by Andrew Martin, who was a business development manager with SPS, and in September 2005 after a pilot system had been was successfully trialled onshore, SPS commissioned Aiken Group Limited (“Atken”) to design and manufacture a DNV certified operational offshore umt SPS was subsequently sold to MI Swaco nn August 2006 but this sale excluded the Inpro System which was instead sold to Sermtec As part of this sale Andrew Martin and two other SPS employees were transferred to Seimtec as were all SPS rights and entitlements relating to the Inpro System The funding for the purchase was provided by Mark Carmichael, Glynn Williams and Nigel Leggett, who were collectively granted a floating charge over the company’s assets Andrew Martin, Mark Carmichael and Glynn Williams were appointed as directors either shortly before, or immediately after, the purchase from SPS and Raymond Cowan was appomted as a director a couple of months later Regrettably Mark Carmichael’s directorship came to an end when he died on 22 June 2008

The development of the Inpro System continued over the following year and, after a successful demonstration of the system in operation in July 2007, the directors and shareholders were considering exit strategies An Information Memorandum was issued 1n November 2007 and Baker Hughes were subsequently granted a period of exclusivity to undertake a performance evaluation However various technical issues arose which resulted in the evaluation process bemg curtailed in March 2008 and the company incurring a loss of around £80,000 ansing from the evaluation process It soon became evident that further work was required to the overall system but at that trme Mark Carmichael advised he was not prepared to provide further funding for the company The directors tned to find alternative funding but without success and by early May 2008 the directors were on the verge of appointing Admunistrators They were, however, then approached by a third party about the possible sale of the company and imutial negotiations took place The directors, however, then decided to withdraw from these discussions and pursue an alternative interest which had arisen m the meantime While these discussions were …

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/SC299735/filing-history/MjAxNDA1NzM1M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/SC299735

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.