SPECIALIST cleaning company Proventec today returned to trading its shares on the alternative investment market (AIM) after a six month absence.

The Rodney Street-based company’s stock was suspended after the breakdown of refinancing talks.

But it has been able to agree a debt for equity swap with major shareholder InnoConcepts NV.

As previously announced, Peter Teerlink is stepping down as Proventec chairman with immediate effect and non-executive director and chairman of the audit committee Michael Hough has become the new chairman.

Chief executive David Chestnutt said: “The readmission of Proventec’s shares to trading today marks the end of a period of uncertainty for the company.

“The board has successfully co-ordinated the reconstruction of the company's balance sheet, with the strong support of the company's shareholders and note holders, to put Proventec in a stable financial position.

“The management team can now focus on addressing the company’s considerable business opportunities.”

He added: “I would like to thank all of our stakeholders for their support during this process, the outcome of which enables the company to look to the future with renewed confidence.”