5th Oct 2018 09:15
LONDON (Alliance News) - Baskerville Capital PLC on Friday posted a maiden loss as it continues to seek a suitable acquisition.
Baskerville listed on the Main Market of the London Stock Exchange in September 2017 with the goal of making technology acquisitions. It recorded a pretax loss of GBP168,934 between the listing and June 30.
The company incurred GBP171,582 worth of administrative expenses during the period and had interest income of GBP2,648. It currently has no business activity and recorded no revenue.
Baskerville raised GBP1.8 million when it listed and its cash as at June 30 was GBP1.6 million.
"A number of technology companies, within different sectors and at different stages of their corporate development, have been considered since Baskerville floated last year. We have reached various stages of negotiation, but none have yet met the standards we have set to generate significant shareholder value," said Baskerville Chairman Rodger Sargent.
"We continue to put all our efforts into identifying and acquiring such a company and will update further as soon as we are able," Sargent added.
Shares in Baskerville were untraded at 3.10 pence on Friday.
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