29th Nov 2019 11:46
(Alliance News) - Technology firm Watchstone Group PLC said Friday it extended the deadline for the sale of its Canadian healthcare unit amid delays to the regulatory process.
In September, Watchstone - formerly known as Quindell PLC - said its Canadian subsidiary Quindell Services Inc had agreed to sell PT Healthcare Solutions Corp to a unit of LM Holdings Corp for CAD36.2 million, or GBP22.3 million.
On Friday, Watchstone said it still is awaiting "final change of control consent" for the deal. Consequently, the long-stop completion date has been extended to the end of 2019. The current deadline is Friday.
Shares in Watchstone were 2.4% higher at 147.50 pence in London on Friday.
By Ahren Lester; [email protected]
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