31st May 2018 12:59
LONDON (Alliance News) - appScatter Group PLC said Thursday it has deferred the planned acquisition completion date for Priori Data GmbH as the company is waiting for confirmation of its tax relief application under a government scheme.
appScatter applied to Her Majesty's Revenue and Customs for confirmation as to the applicability of tax relief under the Enterprise Investment Scheme and for venture capital trust investment.
As confirmation remains outstanding, the company has deferred the planned acquisition.
"The long stop date under the sale and purchase agreement entered into in connection with the acquisition has therefore been extended to 15 June 2018. Whilst the parties will work towards completion of the acquisition as soon as is practicable, there will be no further extensions to the long stop date of the acquisition agreement," the company said.
appScatter shares were trading 2.9% lower at 67.50 pence each.
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