30th Dec 2015 07:23
LONDON (Alliance News) - Technology-focused investment company Silver Falcon PLC on Wednesday revealed the identity of the company it is currently in talks to acquire in a reverse takeover.
Silver Falcon, shares in which were suspended last week after it confirmed it was holding talks, said it has entered a non-binding memorandum of understanding with the board and principal shareholder of Lime Holdings Ltd to acquire the business in an all-share deal.
Lime is an Australian-listed financial technology company which operates a platform designed to help automate the delivery of insurance. The group recently relocated to the UK and is in the process of developing partnerships both in the UK and internationally, Silver Falcon said.
It said it will make further announcements at the talks progress.
By Sam Unsted; [email protected]; @SamUAtAlliance
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