Matomy Media Group Ltd - Tel Aviv-based cash shell - Signs memorandum of understanding with Israeli car brand importer Global Automax Ltd on a proposed merger, in which Automax shareholders will trade all shares in Automax for shares in Matomy Media. Expects to sign binding agreement in fourth quarter of 2020. Should proposed merger be completed, Automax shareholders would hold 53% of Matomy's issued share capital.
Current stock price: 4.50 pence
Year-to-date change: up 6.0%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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