Falanx Cyber Security Ltd - Reading, England-based cyber security provider - Says it is in advanced negotiations for the sale of its cyber security division. As a result, it is unable to release its annual results for the year ended March 31 by Saturday next week, as required under AIM rules. This means trading of it shares on the market in London will be suspended from start of trading on October 2. This will remain the case until audit results are published and sent to shareholders.
Says: "Whilst negotiations are at an advanced stage there can be no certainty that the company will complete the sale. If the sale were to proceed it would be classified as a fundamental disposal under the AIM rule 15 and, as a result, would be subject to shareholders' approval. A further announcement regarding the sale and the production and timing of the final results will be made in due course."
Current stock price: 45.79 pence, more than doubled
12-month change: down 17%
By Greg Rosenvinge, Alliance News reporter
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