TEWKESBURY, UK – Trackwise Designs announced a further delay in its 2022 annual report and said it is reviewing options for the future of the company.

Trackwise said it worked with a Tier-1 supplier for more than a year on the opportunity to supply Cell Connection System FPCAs to the Tier-1 for onward assembly and supply to an OEM, but has been informed by the Tier-1 that the supplier was not successful in obtaining nomination from the OEM.

In June, Trackwise said it expected to publish its results in July, but has now delayed its annual report further after receiving the notification from the Tier-1. The company's shares remain frozen due to the delay.

Trackwise also provided an update on the sale of its subsidiary, Stevenage Circuits, which was announced in May. It said that a sales agent has now been appointed and the process is underway. Initial offers have been received and are being assessed, the company said.

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