Checkit appoints joint adviser as it explores sale options

(Sharecast News) - Checkit said on Monday that it had appointed EC M&A as joint financial adviser as it continues its formal sale process.

The AIM-traded automated monitoring and operational intelligence platform said the appointment followed its update on 22 May and was intended to support an efficient and internationally coordinated process as the board evaluates strategic interest in the company.

Checkit first announced the formal sale process on 26 March.

EC M&A is a US-based M&A adviser founded in 1992, specialising in industrial and life science technologies, with offices in New York, Chicago, Los Angeles, São Paulo, London, Frankfurt, Paris, Hong Kong and Beijing.

The company said the latest announcement did not represent a firm intention by any party to make an offer under Rule 2.7 of the Takeover Code.

It added that current discussions could be altered, extended or terminated at any time, and that there could be no certainty that any offers would be made, that any sale would be concluded, or as to the terms of any potential offer.

Shareholders were advised to take no action at this stage.

At 1321 BST, shares in Checkit were up 4% at 26p.

Reporting by Josh White for Sharecast.com.

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