RE: Re: Healthy buying14 Oct 2020 00:11
because the broker will be taking a large chunk of the £110k in fees from it and if offers a way for suppliers and the directors to financially gain from the transaction.
its not actually £600k, the company will be left with only £215k as most it is paying old invoices and wages.
"The net proceeds of the Placing, estimated to be £490,000, will be used by the Company to enable the settlement of trade and other creditors, including fees owed to directors, totalling approximately £275,000 and for general working capital purposes whilst it seeks a suitable reverse takeover candidate."