12th Nov 2014 11:45
LONDON (Alliance News) - CA Sperati PLC on Wednesday said it has struck a deal to sell its apparel business to BFS Buttons Ltd and will push ahead with its plan to become an investing company and refocus on the oil and gas sector.
The company will change its name to Teathers Financial PLC as it moves ahead with plans to change into an investing company and to buy a 4% stake in Kentucky Oil & Gas PLC.
BFS Buttons will pay GBP10,000 on completion of the acquisition of the CA Sperati buttons business.
Sperati shares dropped heavily in September when the company first announced its plans to swap buttons and bows for oil and gas, which also included it raising GBP400,000 in a discounted share subscription.
Sperati shares were untraded on Wednesday, having last traded at 2.825 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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