Fandango Explores Acquisition Options As First Half Loss Narrows

LONDON (Alliance News) - Fandango Holdings PLC on Thursday said it continues to review acquisition options following termination of talks with Konnect Mobile Communications Inc.

The investment company said pretax loss narrowed to GBP99,000 in the six months to the end of February from GBP153,000, as it secured an investment income of GBP36,000 versus none a year ago.

In addition, administrative expenses declined to GBP111,000 from GBP153,000 year-on-year.

During the year, Fandango had signed a non-binding agreement to acquire Konnect, a fin-tech company. However, Fandango ceased discussions with Konnect following the failure to raise the required funding for the acquisition.

Fandango shares were suspended in mid-December last year at the request of the company, last closing at 0.45 pence each.

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