2 Feb 2015 08:35
2 February 2015
Insetco plc
("Insetco" or the "Company")
Further re: Agreement for Services
The Company announced on 26 November 2014 that it had signed an agreement to provide administrative services in connection with the sale of senior life settlement policies and expected to receive first revenues of $300,000 by 31 December 2014.
The Company advises that completion of these orders has been delayed due to extended due diligence by its partners into the policies subject to the sale and satisfying compliance procedures in multiple jurisdictions. The Company has been informed by its partners that the requisite due diligence is nearing completion and the compliance procedures now met. The Company will update the market once these first orders have been received.
Ivan Couchman, Chairman, commented: "We are working closely with our partners in Canada and, whilst we are disappointed that there has been delay in completing the initial orders, we are optimistic that defining the mechanics of these orders will pave the way for further orders in the near future."
Insetco plc |
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Barry Heath | 020 7866 0639 |
Ivan Couchman | 07970 377669 |
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Cairn Financial Advisers LLP |
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Jo Turner / Liam Murray | 020 7148 7900 |