Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Libertine Holdings PLC - Sheffield, England-based linear generator technology developer - Confirms it has not received loan funding from Reliant FZCO in-line with the bridging loan agreement. Had anticipated receiving the first £110,000 tranche of the loan amount by last Friday and the second £110,000 tranche by September 14. Says currently has cash resources to maintain operations until late August. But given the current financial situation and the timing uncertainty around the receipt of funds the board will continue to seek advice on the appropriate next steps during August. This includes evaluating the progress and timing of any potential transaction in relation to the process being advised on by Interpath Advisory, as announced on August 7. Under this Libertine is exploring a potential sale of its wholly owned subsidiary Libertine FPE Ltd.
But should the process not conclude positively says it is likely that the company may not be able to meet its liabilities as they fall due by late August. It therefore, may enter into administration or another form of insolvency procedure. This would make the timing or level of return, if any, to shareholders uncertain.
Current stock price: 1.17 pence
12-month change: down 81%
Copyright 2024 Alliance News Ltd. All Rights reserved.