7th Feb 2025 12:03
(Alliance News) - Kondor AI PLC and Ora Technology PLC on Friday jointly said that the offer deadline for Kondor's proposed takeover of Ora has been extended again.
The London-based software developer first made an offer to buy Ora in August. Ora is a London-based consumer technology firm which provides tools for retail investors transacting in carbon credits.
Kondor must announce its firm intention to buy Ora before a new 'put up or shut up' deadline on March 7. The previous deadline was on Friday.
Previous extensions to the deadline were announced on September 20, October 18, November 15, December 13 and January 10.
The two firms agreed to a revised ratio of 0.9848 Kondor shares for each share in Ora, after Ora issued around 3.2 million new shares on December 9.
Both companies' shares were suspended in August to facilitate the offer process.
By Michael Hennessey, Alliance News reporter
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