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Highway Capital posts interim loss; sees acquisition delayed to 2023

29th Nov 2022 17:19

(Alliance News) - Highway Capital PLC on Tuesday announced a loss for the first six months of the financial year, and said its proposed acquisition of Guinevere Capital Esports & Entertainment has been delayed.

The Beaconsfield, England-based cash shell company said that it had made a pretax loss of GBP243,000 in the first six months ended August 31, widened from GBP136,000 for the corresponding period last year. It recorded no revenue in either period.

The company said that its potential acquisition of Guinevere Capital Esports & Entertainment, proposed back in October, was intended for completion in 2022, but has been delayed due to market conditions.

Chair Ludwik Sobolewski said: "It remains the intention of the directors to conclude the acquisition and they continue to work with the company's advisers to achieve this."

Highway's shares have been suspended since January.

By Harvey Dorset; [email protected]

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