(Alliance News) - Acquisition vehicle Vertu Capital Ltd on Thursday said it is still looking for a potential reverse takeover, as it posted a narrowed annual loss.
Pretax loss for 2019 was GBP150,195, slimmed from GBP166,863, solely down to operating expenses falling 10%.
"The company continues to seek suitable target for acquisition, but the board has yet to find a meaningful business for a reverse take-over," Vertu Capital said.
"On March 11, the World Health Organisation officially declared Covid-19, the disease caused by novel coronavirus, a pandemic. The outbreak has not had a significant impact to the group's position to date. The evolution of this pandemic is closely being monitored, including how it may affect the group, the economy and the general population."
Shares in the company were untraded at 0.4 pence each in London on Thursday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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