LONDON (Alliance News) - Investment company Vertu Capital Ltd said Thursday it was still planning its reverse takeover of management consultancy VCB Malaysia Berhad, as its first half loss narrowed.
Vertu booked a pretax loss of GBP118,885 for the six months to June 30, down from GBP210,648 in 2015, when it listed. The company currently has no revenue.
Vertu said that during the period it agreed to acquire the entire share capital of VCB Malaysia Berhad for GBP350,000 in cash and discussions over the acquisition are continuing, subject to due diligence and shareholder approval.
Shares in Vertu were untraded at 1.07 pence Thursday.
By Adam Clark; adamclark@alliancenews.com
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