(Alliance News) - AIM-listed Nektan PLC on Tuesday confirmed that Mark Phillips and Julie Swan of PCR London LLP were appointed as joint administrators of its UK B2C business.
The gaming technology platform provider highlighted, however, that this will have no operational impact on Nektan or any of its other subsidiaries, which will continue to trade "as normal".
Nektan said it is "likely" that its UK B2C business will be sold to Grace Media Ltd, which is a part of digital marketing services provider Active Win Group. If this sale proceeds, Nektan said it will seek to enter into a business-to-business partnership with Grace Media to facilitate continued delivery of services to its existing UK B2C white label partners. This will result in Nektan receiving ongoing monthly royalties from Grace Media.
Looking ahead, Nektan said this restructuring will re-position the company to target new emerging markets with a strengthened balance sheet and cash position.
"The group restructuring reaffirms the directors' decision to focus on emerging opportunities in international markets both directly and through our established reseller relationships," explained Interim Chief Executive Gary Shaw.
"If the sale of the UK B2C business proceeds, and the company secures a B2B partnership with the prospective buyer, we look forward to a bright future working in partnership with the prospective buyer as they take this business onto the next stage of its journey. The completion of the group restructuring allows Nektan to focus on its expanding international B2C and B2B business," added Shaw.
Nektan shares were suspended from trading on London's AIM on Thursday last week, pending publication of its audited annual results.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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