3rd May 2024 14:56
More Acquisitions PLC - London-based special purpose acquisition company - Gets shareholder approval for name change to Pristine Capital PLC. The name change was announced in April. Notes that the name reflects a change in management and acquisition strategy.
"With consolidation taking place in the real estate sector, the board believes that there is a particular opportunity in the small-cap sector to build a valuable property investment company, notwithstanding that the sector might be out of favour at this time," says Executive Chair Neil Sinclair.
"As a first step, we intend to acquire either a distressed commercial property portfolio or one which is part of a much larger holding, preferably corporately, and where the vendors will accept part of the consideration by way of the issue of new ordinary shares in the company."
Current stock price: 0.69 pence, up 6.0% in London on Friday afternoon
12-month change: down 1.6%
By Sophie Rose, Alliance News senior reporter
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