LONDON (Alliance News) - Insetco PLC said Friday that it has been unable to appoint a suitable replacement after its nominated adviser CAIRN Financial Advisers resigned in April, and if its unable to appoint a replacement by Monday morning, its trading on AIM will be cancelled.
Insetco provides financial services in the US life settlements securitisation markets.
The company said that "if this is the situation" on Monday, it will review its options, including considering approaching junior markets like the ISDX and GXG as an alternative.
It said it had produced a loss of GBP386,131 for 2014, compared to a loss of GBP542,839 in 2013. It said that with new directors having joined its board during the year, and potential indications of refinancing and trading activities, it looks forward to further improving its financial position.
Shares in the company remain suspended.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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