30th Nov 2015 11:05
LONDON (Alliance News) - Media investment firm Gloo Networks PLC said it continues to review a number of potential acquisition opportunities, continuing to target a business with an enterprise value of between GBP250 million to GBP1 billion.
For the period from Gloo Networks' incorporation on February 16 to end-September the company reported a pretax loss of GBP1.0 million, on revenue of GBP6,566, its first results since listing.
Gloo Networks floated in August, raising GBP30 million in its initial public offering, which it plans to put towards acquiring "trusted consumer brands" in the media sector.
As Gloo Networks is yet to make any acquisition, the company said it considers it inappropriate to make any forecast regarding the likely level of any future dividends. Gloo said it will determine its dividend policy following the completion of its first reverse takeover, and will only commence payment of dividends when "it becomes commercially prudent to do so."
Shares in Gloo were down 0.8% at 125.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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