RE: anymore news anyone22 Sep 2018 10:32
I emailed Nick on Thursday and got a response within 20 mins
I appreciate that the TPO suspension has gone on for a lot longer than we would have wished. I'm restricted in what I can say, obviously, but I would reiterate that we remain in talks with a potential investor who has ben providing us with bridging finance for the last eight weeks or so. There can be no guarantee that these talks will lead to a deal but I hope you will agree that the fact that the investor has provided such a consistent and relatively substantial amount of money so far would indicate that they're serious in their interest.
Should a deal be concluded then a necessary part of it would be the guarantee of sufficient working capital to enable the Board and hence the Auditors to sign off the 2017 Full Year and subsequent 2018 Interim numbers. Once both sets of accounts are approved and signed off then the company will be able to request the lifting of the suspension.
To be honest, if you'd asked me a month ago whether we would have concluded this process by end September I would have said yes; but things have a habit of always taking longer than wished - and that's not confined to TPOworld. I believe that we are closer to a deal than we were a few weeks ago and I hope that we will be able to update the market within the next few weeks