27th Dec 2013 11:43
LONDON (Alliance News) - Randall & Quilter Investment Holdings Ltd said Friday that it had extended the deadline for approvals and consents required in a placing of shares with Phoenix Asset Management Partners Ltd by three months to March 31, 2014.
Phoenix expressed an interest in taking a share in the company of over 10%, which requires certain approvals from regulators in several territories that Randall & Quilter operates in. As a result Phoenix only subscribed for a 9.96% interest in the company, and Chief Executive Kenneth Randall agreed to sell 1.2 million shares at the placing price to Phoenix, conditional on these regulatory consents and approvals.
The consents and approvals are still outstanding, although the company expects them to be completed by the new deadline.
Shares in the investment company last traded flat at 178.50 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2013 Alliance News Limited. All Rights Reserved.
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