30th Jan 2014 11:00
LONDON (Alliance News) - Highway Capital PLC Thursday said it remains a "cash shell" and continues to seek to opportunities to maximise the value of the company.
The cash shell company, which is seeking to acquire businesses, said it continued to keep expenditure at a minimum in order to preserve its cash resources and currently has cash in hand of approximately GBP43,000.
In September 2013 the company raised GBP111,000 of new equity capital before expenses through an open offer to shareholders. The proceeds were used to repay the majority of the interim loan finance raised prior to the open offer.
Apart from this, no material events or transactions took place during the period from September 2013 and January 2014, which had an impact on the company's financial position or performance, said the company.
The stock was trading at 18.00 pence Thursday morning, up 1.00 pence or 5.9%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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Highway Capital