1st Jul 2019 12:16
(Alliance News) - Boston International Holdings PLC said at its annual general meeting on Monday that it has pulled out of the deal to acquire Cornhill FX Holdings Ltd, due to being unable to raise the necessary capital.
Back in August 2017, Boston announced its intention to enter into a non-binding letter of intent regarding the proposed acquisition of foreign exchange broker Cornhill FX. As this transaction would constitute a reverse takeover, its shares were suspended from trading since.
As a result, the special purpose acquisition firm has requested that its shares are restored to trading on the London Stock Exchange.
Boston International said it will now undertake a review to determine the most appropriate future strategy for the company.
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