2nd Feb 2015 08:48
LONDON (Alliance News) - Insetco PLC on Monday said the contract it signed in December to provide administrative services for senior life settlement policies has been delayed.
The company said it is working with with its partners on the deal and said it would update the market again once the first orders have been received. It said the due diligence is nearly complete and compliance procedures are close to being met.
Announcing the original deal in November last year, the company said it would receive the first revenue from the deal, totalling USD300,000 by December 31, 2014.
Shares in the company were down 11% to 0.138 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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