ADVFN plc have worked with their advisers on a potential acquisition of London South East Limited, a UK financial website and provider of stock data, with an eye to combine the business and talents with ADVFN. Since the end of the financial year, this deal has fallen into abeyance. Market conditions and changes in the Venture Capital Trust (" VCT") rules have meant the market currently has little appetite to finance this kind of deal but both parties have left the door open for working together in the future.
Oh i hope LSE don't buckle to ADVFN's advances.. on a side note how are they worth £24m based on last set of trading results? Using previous annual and interim figures, the trend still looks like slow growth, challenging sales environment, losses continue and the growing liabilities masking the shrinking asset position - look at those outstanding trade / payables
The Board of ADVFN (LSE:AFN), the global stocks and shares website, has noted the recent speculation concerning a potential acquisition of London South East Limited ("London South East"), a provider of stock data.
The Board confirms that it has signed Heads of Agreement with the directors of London South East, but any potential transaction would be subject to certain conditions being met and at this stage there can be no certainty that a transaction will take place.
I assume you haven't seen the recent RNS's about replaceing the board. I've had these for years sitting on a loss but the way things are going I may soon be even or in profit. Any Threads on ADVFN get deleted as do any for their advertisers such as Galvan which is a bit rich considering all the ramping that goes on their boards.
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