1st May 2019 18:30
LONDON (Alliance News) - Puma VCT 12 PLC on Wednesday said its net asset value has dropped as one of its investments has begun a process that could lead to voluntary liquidation.
"The shareholders are not expected to make any recovery from this liquidation, which will therefore reduce the company's net asset value by approximately 11p per share," said Puma VCT 12.
The venture capital trust made an approximately GBP3.4 million investment in budget gym operator Sweat Union Ltd. After rejecting a creditors' voluntary arrangement, Sweat Union has now begun a process that could lead to its entering creditors voluntary liquidation.
Shares in Puma closed down 11% at 82.00 pence on Wednesday.
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