Forbes Ventures PLC - Stockport, England-based investment company - On Friday said it expects its 2021 results to be released in October and it has found a preferred candidate for chair. In June, shares were suspended due to uncertainty regarding an issue of GBP40 million two-year debt notes. Back then it said that due to this uncertainty, it would be unable to complete the 2021 audit before the June 30 deadline, and expected to release results by August 12. Further, company said its shares were likely stay suspended until a reverse takeover happens, as it is in discussions regarding a reverse takeover, talks first disclosed in July.
Meanwhile, Forbes Ventures says it has found a preferred candidate to become chair of the firm "and is seeking to conclude the appointment in parallel to the work being undertaken on the reverse takeover."
By Tom Budszus; tombudszus@alliancenews.com
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