9th Nov 2016 10:35
LONDON (Alliance News) - SyQic PLC Wednesday said that a consortium led by its chief executive has until 1700 GMT Friday to either make a firm offer for the company or walk away under UK takeover code.
SyQic has previously announced that it was in talks with Chief Executive Jamal Hassim and MMV Investments HK Ltd, a company owned by Johan Robb, over a possible offer for the company.
It noted Wednesday a reference in its 2015 results to an interest from a company named Yuma Ventures Ltd for the company. It clarified that Yuma Ventures is currently owned by Hassim, and is being considered by the consortium as the entity to be used for any possible offer, although it reiterated that there is no guarantee an offer will be forthcoming.
Shares in SyQic were untraded Wednesday, last closing at 16.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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