29th Apr 2016 16:00
LONDON (Alliance News) - Worthington Group PLC late Friday said it has asked for yet another extension to the deadline by which Nuna Minerals AS must announce a firm intention to make an offer for the company or walk away from the potential deal.
Despite the number of extensions already given, Worthington Group said it "understands" progress has been made in relation to the proposed refinancing of Nuna Minerals by Greenland Mining Management Ltd, which needs to be completed before the deal can go through.
The latest date has been extended until May 27 from the last deadline which would have expired at the end of play Friday.
"There can be no certainty that these discussions will lead to an offer being made for the company, nor as to the terms on which any offer may be made," said the company.
The deal was originally struck in May 2015.
Worthington shares remain suspended.
By Joshua Warner; [email protected]; @JoshAlliance
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