7th Feb 2019 09:57
LONDON (Alliance News) - Strix Group PLC on Thursday said it has made an offer to acquire assets from HaloSource Corp for USD1.3 million in cash.
Strix,a designer and manufacturer of kettle safety components, has offered to acquire some US and Chinese assets from water technology firm HaloSource, which will "assist in accelerating its strategy to expand and grow its water filtration division" it said.
HaloSource, noting the offer, said it will use the cash from the sale to pay its creditors. It does not however expect any payment to shareholders.
Strix shares were trading down 0.9% at 153.82 pence each while HaloSource shares remain suspended.
HaloSource shares have been suspended from trading since December as the company said it was looking to raise extra cash with both new and existing investors but added it was unlikely that any transaction will be sufficient to fund the company as a going concern.