29th Apr 2016 11:49
LONDON (Alliance News) - Vertu Capital Ltd, formed to acquire a target company or business in the financial services sector, on Friday said it made a net loss of GBP272,001 from its incorporation in September 2014 to December 31, 2015.
On April 19, the company announced that it had entered into a non-binding letter of intent to acquire VCB Malaysia Berhad, a company incorporated in Malaysia, for GBP350,000 in cash.
The proposed acquisition is conditional on due diligence, shareholder approvals, execution of the transaction and subsequent re-admission of Vertu's shares to trading on the Main Market of the London Stock Exchange.
Shares in Vertu were untraded Friday at 1.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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