29th Jun 2018 12:07
LONDON (Alliance News) - Kubera Cross-Border Fund Ltd has moved the long-stop date for the disposal of Planetcast Media Services Ltd back for the fifth time, the company said Friday.
The long stop date for Kubera's disposal has been extended to July 31 while it continues to await ministerial approval. The date was first extended in October, then again in December, March, and June.
Kubera intends to sell its entire stake in Planetcast, as announced in March 2017, for USD22.5 million. Planetcast's carrying value at that time was USD27.3 million.
"Other than the extension of the long stop date, all other terms and conditions of the share purchase agreement remain unchanged," Kubera said in a statement.
Shares in Kubera were untraded Friday, last quoted at 0.29 pence.
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KUBC.L