R8 Capital Investments PLC - London-based fintech with a bitcoin banking app - Expects the acquisition of Redwood Financial Partners Ltd, announced in November, to be completed by the end of August. Explains that the extended time frame is largely to accommodate an IFRS conversion exercise of Redwood Bank Ltd, RFPL's wholly-owned subsidiary, and to provide sufficient time for the Prudential Regulation Authority to provide consent to change of ownership, required under the transaction. Believes the deal is progressing well, although it remains subject to due diligence and regulatory approval.
Current stock price: suspended at 2.20 pence
12-month change: up 96%
By Jeremy Cutler, Alliance News reporter
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R8 Capital Inv (MODE)