13th May 2015 08:14
LONDON (Alliance News) - Health and social care services company Ultrasis PLC said Wednesday that its public sector contract with Screenetics UK Ltd will be terminated on May 29.
When the company originally announced the contract in March of last year, it had said it was a three-year contract with a potential value of over GBP8.0 million.
However, towards the end of last month, Ultrasis filed a notice of intention to appoint Paul Flint and Brian Green of KPMG LLC as administrators, after its fund-raising plan with largest shareholder Paul Bell fell through.
Shares in Ultrasis remain suspended.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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