IN BRIEF: Hawkwing withdraws application for relisting

Hawkwing PLC - cash shell - Says it has been informed by the UK Financial Conduct Authority that its loan to Internet Fusion Group was a reverse takeover. As a result, Hawkwing was withdrawn its application to restore the listing of the company. Hawkwing's loan to Internet Fusion Group was for GBP13.7 million and carries a 8% per annum interest rate from the date of drawdown and is for a three-year term. The loan also carries a redemption premium depending on when it is repaid.

"Discussions are continuing with IFG to unwind the loan and a further announcement will be made in due course," Hawkwing says.

By Heather Rydings; heatherrydings@alliancenews.com

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