Catena Group PLC - venture capital firm - Says it is making progress on its proposed acquisition of Insight Capital Partners Ltd. Says share purchase agreement and other legal documentation are at an advanced stage, due diligence has largely been completed and all other IPO workstreams are progressing well. Expects to publish an admission document, including a circular to shareholders and notice of general meeting, to approve the proposed acquisition of Insight. Shares of Catena will remain suspended from trading on AIM until the publication of the admission document. Also enters short-term shareholder loan agreement of GBP400,000 with Insight. Says it has appointed Ashley Humphrey as non-board chief financial officer. Humphrey will serve as CFO of the enlarged group post completion of the acquisition of Insight.
Current stock price: 59.00 pence
Year-to-date change: down 3.3%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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