30th Aug 2019 12:17
(Alliance News) - Porta Communications PLC on Friday said the final day of dealings in its shares will be Monday next week, with the shares suspended on AIM the day after.
Porta is combining with Italian public relations and advocacy firm SEC SpA in a GBP4.5 million all-share takeover. The hearing to sanction the scheme of arrangement is September 2, and as such this is set to be the last day of dealings in and the registration of transfers of Porta shares.
On Thursday, SEC said Rhydian Bankes is no longer scheduled to become chief financial officer of the company after the combination.
Bankes' departure from Porta was announced August 9 and is effective from November. He will not, therefore, be made CFO of the combined group when it is admitted to AIM.
Shares in Porta were untraded at 0.45 pence on Friday at mid day in London and are currently in a bid situation condition.