10th Sep 2021 18:22
Rockpool Acquisitions PLC - special purpose acquisition vehicle - Says lack of funds hindered the company from acquiring Greenview Gas Ltd. Notes that during the last financial year, Greenview appointed a new finance director who, having identified some weaknesses, is undertaking a programme to strengthen Greenview's financial reporting and management structure.
Company says: "The board of Rockpool has previously indicated to the market that it wanted to progress with the completion of the acquisition of Greenview pursuant to the exercise of its option over the shares of that company, but, for various reasons, including a lack of funds available to pay the associated costs, it has not been possible to do so to date.
"The board is currently considering whether and when to progress the acquisition, or to abandon it in favour of seeking an alternative transaction. The latter course would only be feasible if a party were to be found who would be willing to step in to Rockpool's shoes to acquire Greenview and / or refinance the debt which the company is owed by Greenview."
Current stock price: suspended at 9.00 pence
Year-to-date change: unchanged
By Arvind Bhunjun; [email protected]
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