19th Apr 2016 09:26
LONDON (Alliance News) - Teathers Financial PLC on Tuesday said it remains likely it will not be able to fulfil its investment policy in time for its shares to avoid cancellation from trading on AIM, but said it is in talks with a possible takeover target and has held talks with a potential investor.
Teathers said it remains unlikely it will be able to secure a reverse takeover, in line with its investing policy, by June 4, the deadline after which its shares will cease to be listed on AIM.
The company's shares are currently suspended after it was unable to implement its investing policy within a year of becoming an investing company.
Teathers said it is in talks with a possible takeover target which would have synergies with its Teathers Financial Software Ltd investee company, which owns the Teathers fundraising app.
It also has held talks with a potential investor who has indicated an interest in investing GBP1.0 million into the company, which would help the group to fund the development of the Teathers app without having a stock market listing.
By Sam Unsted; [email protected]; @SamUAtAlliance
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