18th Jun 2019 10:07
(Alliance News) - Shares dropped in Regency Mines PLC on Tuesday as it noted that White Car Ltd, in which subsidiary Esteq Ltd is invested, announced it has entered voluntary liquidation.
Shares in Regency Mines were 17% lower at 0.050 pence on Tuesday.
White Car operates Tesla Inc rental car services out of Heathrow and several UK locations.
In December 2017, Regency Mines said that EsTeq had invested GB200,000 in White Car, and that it planned to make a further GBP200,000 investment in February 2018, which would give EsTeq a 5.8% stake.
EsTeq's investment in White Car was held at no value in Regency's most recent interim accounts for the period to the end of December, published on March 29.
Regency said that it is continuing a strategic review of its operations, alongside the formation of a revised board of directors.
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