Finablr PLC - Abu Dhabi-based financial services provider - Notes still in discussions with Prism Advance Solutions Ltd over potential takeover. Fraud-hit former Travelex owner Finablr said the pair are working "to determine an optimum structure for the transaction".
"The proposed core terms of the transaction remain those set out in the October 6 announcement, namely the restructuring and settlement of the debts of Finablr Ltd and its subsidiaries, the provision of working capital for Finablr Ltd and its subsidiaries and the restructuring of the board of Finablr Ltd and its subsidiaries, and will involve only nominal consideration being paid to Finablr PLC," the company said.
Can not guarantee it will close the deal within four weeks of October 6.
Current stock price: 11.03 pence
Year-to-date change: down 94%
By Paul McGowan; paulmcgowan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.