7th Dec 2020 18:28
Nu-Oil & Gas PLC - cash shell - For the financial year to the end of June, pretax loss narrows to GBP1.0 million from GBP2.2 million the year before, due to lower administrative and finance costs.
Post-period, in September company was granted extension for time needed to complete a reverse takeover. Obtains six month extension from November 4 so now has eight months to seal a takeover.
"The board has progressed discussions with two counterparties who are both in the circular economy industries and specifically in plastics recycling and manufacturing. The board expects it will be able to provide a further update shortly with further details of a proposed transaction," Nu-Oil says.
Current stock price: 0.03 pence
Year-to-date change: down 45%
By Dayo Laniyan; [email protected]
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