The company, which invests in the natural resources sector, posted a pretax loss of
Reabold was suspended from trading on AIM at the end of December after failing to make an acquisition in the required time limit since its conversion to become an investing company a year earlier. The company is yet to record any revenue.
The firm said its net assets showed a deficiency of
During the period, the company identified a proposed acquisition which would constitute a reverse takeover, however this was not completed in the required time limit. The transaction has now been terminated due to the target company pursuing a non-public strategy rather than proceeding with the AIM floatation process.
Reabold now hopes to raise around
However, Reabold said while it believes there are positive cyclical investment opportunities in resources stocks, these may be subject to significant volatility in financial markets and commodity prices, as well as other potential risk areas, including operational, geological, environmental, sovereign issues and access to capital.
The company now hopes to move forward and have its AIM suspension lifted.
Most Popular Stories
- Pandora Tumbles in Late Trading
- Sporty Ford Fiesta Fires on All 3 Cylinders
- Stop-Start Engines Save Gas, Reduce Emissions
- World Tensions Don't Curb Enthusiasm for Stocks
- Visa, Amazon Results Drag Down the Street
- Russia Fears Lasting Damage From Ukraine Crisis
- U.K. Economy Surpasses Pre-Crisis Peak
- Ohio State Band Chief Fired After Probe
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Hispanic Leader Goes the Extra Mile