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IN BRIEF: Nu-Oil Given Extension To Seal Reverse Takeover Deal

Wed, 9th Sep 2020 15:21

Nu-Oil & Gas PLC - cash shell - Granted extension for time needed to complete a reverse takeover. Obtains six month extension from November 4 so now has eight months to seal a takeover. "The board has progressed discussions with two counterparties who are both in the circular economy industries and specifically in plastics recycling and manufacturing. The board expects it will be able to provide a further update shortly with further details of a proposed transaction," Nu-Oil says.

Current stock price: 0.03 pence but currently suspended from trading

Year-to-date change: down 40%

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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