Mindflair PLC - investment company focused on artificial intelligence - Notes that investee company Emergent Entertainment Ltd is engaging with insolvency advisers and is anticipated to be placed into liquidation shortly. Based on Mindflair's net asset value of 4 pence at June 30, says Emergent investment represents around 0.7p per share or 18% of NAV. Says as the net cash investment made historically by Mindflair in this company was less than USD200,000 and that, based on the NAV adjusted for the current carrying value of this investment, it is still trading at around 30% of its NAV.
Current stock price: 1.17 pence, up 17%
12-month change: down 54%
By Greg Rosenvinge, Alliance News senior reporter
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Mindflair (MFAI)