1st Feb 2021 19:10
Fandango Holdings PLC - investment company focused on the industrial and services sectors - Annual pretax loss narrows to GBP44,000 from GBP74,000. In year to August 31, administrative expenses broadly flat year on year at GBP188,000 from GBP189,000. Investment income improves to GBP181,000 from GBP159,000.
In mid-July, Fandango signed a non-binding agreement to acquire an undisclosed oil well services provider.
The acquisition constitutes a reverse takeover, leading to Fandango's shares on the London Main Market being suspended.
Fandango said that the transaction is progressing well, and is currently preparing the prospectus for the acquisition of the unnamed oil well services provider in exchange for shares in Fandango.
"The target's corporate finance advisors have continued to support the company whilst the target's business has undergone structural and organisational changes during the period since the heads of terms were signed," company says.
Current stock price: suspended
By Paul McGowan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Fandango Holdi