News Column

Ark Therapeutics Says Proposed Reverse Takeover Plan Progressing Well

August 1, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Ark Therapeutics Group PLC Friday said that matters relating to its proposed reverse takeover of a UK-based private healthcare support services company were "progressing well", as it swung to a pretax loss for the half year to end-June.

The company posted a pretax loss of GBP481,00, down from a profit of GBP1.4 million a year earlier, as in the previous year the company booked a GBP1.1 million gain from the sale of its previous trading subsidiaries.

Ark Therapeutics announced that it had signed heads of terms over a possible reverse takeover in March, which would be paid for via the issue of shares in the new consolidated company. As a result, the company's shares are presently suspended from trading pending the publication of some documents.

The reverse takeover is subject to shareholder approval.

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Source: Alliance News

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