27th Apr 2018 11:42
LONDON (Alliance News) - Golden Rock Global PLC on Friday said it continues a search for a suitable acquisition target, as offers received during 2017 have not met satisfactorily with its purchase criteria.
The investment company said it kept the running costs at the manageable level, resulting in slightly widened pretax loss of GBP365,845 compared with GBP340,322 loss the prior year. Golden Rock said it ended the year with GBP960,858 in cash.
Looking ahead, the company said it remains focused on finding a suitable acquisition, which meets its acquisition criteria, which include European location, strong executive management team, valuation size in the range of GBP20.0 million to GBP30.0 million and cross-border payments, blockchain, peer to peer lending platforms, crowd funding platforms, financial technology and Forex trading activities.
However, Golden Rock also highlighted that it will continue to consider opportunities that do not satisfy all the above criteria.
Shares in Golden Rock were untraded at 8.00 pence each on Friday.
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