28th Apr 2016 10:20
LONDON (Alliance News) - Investment company Silver Falcon PLC on Thursday said it made a pretax loss in its last financial year and it works towards reversing into Lime Holdings Ltd.
At the end of December, Silver Falcon said it had entered a non-binding memorandum of understanding to acquire Lime, an Australian-listed financial technology company which operates a platform designed to help automate the delivery of insurance.
On Thursday, it said due diligence on the deal was continuing and no binding agreement has yet been reached, though it continues to work towards completing the deal.
For the 10 months to the end of December, Silver Falcon made a pretax loss of GBP80,367, widened from GBP6,270. The company changed its financial year to the calendar year, so comparative figure covers the year to the end of February 2015.
Silver Falcon shares are currently suspended.
By Sam Unsted; [email protected]; @SamUAtAlliance
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