St Peter Port Capital Ltd - closed ended investment company focused on small to mid-sized companies which are seeking to achieve an IPO - Concludes agreement with RAB Capital in which RAB will acquire St Peter Port's entire portfolio for GBP2.2 million in cash.
The sale includes all investments in the portfolio except for shares believed by the company to have become insolvent.
St Peter Port now only has GBP103,000 in cash other than sale proceeds. Looking ahead, St Peter Port will being the liquidation process and plans to return around GBP2.17 million to shareholders.
Current stock price: 2.75 pence, down 29%
Year-to-date change: up 5.8%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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