16th Sep 2016 09:55
LONDON (Alliance News) - SyQic PLC on Friday said that the deadline by which its chief executive Jamal Hassim, in consortium with MMV Investments (HK) Ltd, must either make a takeover offer for the company or walk away, has been extended.
This deadline had originally been 1700 BST Friday, but now has been extended to October 7.
SyQic said that positive discussions are continuing between its independent board and the consortium, but noted there can be no certainty an offer will be forthcoming.
The company's shares have been suspended from trading as it was unable to publish its 2015 results by the end of June, as required under AIM rules, and this suspension will remain in place until these results are published. SyQic said it continues to make good progress with its audit, and hopes to be able to announce the results in the next few weeks, along with its results for the first half of 2016.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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