12th Nov 2019 10:56
(Alliance News) - Acquisition vehicle Fragrant Prosperity Holdings Ltd on Tuesday said it is still searching for a takeover opportunity.
The company said it will not limit its acquisition options to any particular industry but expects to acquire a business in the technology or intellectual property sector.
Fragrant, formerly known as Vale International, explained: "The board continued to review a number of potential acquisition opportunities across the sector but none of which has met the necessary criteria for selection."
In the financial year ended March 31, Fragrant narrowed its pretax loss GBP232,105 from GBP259,763 last year.
Staff costs fell by 76% year-on-year to GBP12,000 from GBP49,981.
Shares in Fragrant were untraded in London on Tuesday morning, last quoted at 1.95 pence each.
By Eric Cunha; [email protected]
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