31st Jul 2018 13:39
LONDON (Alliance News) - Kubera Cross-Border Fund Ltd said Tuesday it has further extended the long-stop date for its sale of Planetcast Media Services Ltd to the end of September.
This is the sixth time the long-stop date has been extended.
This follows Kubera's announcement in October 2017 that the long stop date had been extended to the end of December 2017 and subsequently to the end of March, June and now September 2018.
Kubera, which specialises in investments in cross-border companies, said it continues to await the final requisite ministerial approval for the completion of the transaction.
Kubera announced in March 2017 it was to sell Planetcast in a USD22.5 million deal. At the time, Planetcast had a carrying value of USD27.3 million. At the end of June 2017, Kubera had a net asset value of USD43.3 million.
Shares in Kubera Cross-Border went untraded Tuesday but last closed at USD0.29.
Related Shares:
KUBC.L