Nakama Group PLC - recruitment consultancy firm in UK and Asia - Agrees terms to dispose of its four operating businesses - Highams, the Nakama UK Business, Nakama HK and Nakama Singapore - to Sanderson, a privately owned recruitment business.
These represent all of the group's operating businesses.
The disposal is conditional on shareholders passing resolution one at a general meeting. Should this pass, the company expects the disposal will complete on January 4 and the company will then become a cash shell.
"If shareholders do not pass resolution one, the company will continue to operate the trading businesses. However, the directors believe there are limited opportunities to reduce the company's cost base any further. In light of continued uncertainty in the global trading environment arising out of the Covid-19 pandemic, the company would need to raise additional funds from investors," company cautions.
Current stock price: 0.7 pence
Year-to-date change: down 18%
By Lucy Heming;Â lucyheming@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.