Friday, February 23, 2007
Vertu on brink of first acquisition
VERTU MOTORS is about to make its first acquisition.
It said this morning that it was in discussions about a possible reverse takeover which would involve an equity fundraising.
It has requested the London Stock Exchange to suspend trading with immediate effect.
Shares in the company, which was created by former Reg Vardy directors, closed at 101-1/2p, yesterday, a 16% gain since last Friday. At yesterday's price the company is valued at around £47.5m.
DATED: 23.02.07
FEED: AW
It said this morning that it was in discussions about a possible reverse takeover which would involve an equity fundraising.
It has requested the London Stock Exchange to suspend trading with immediate effect.
Shares in the company, which was created by former Reg Vardy directors, closed at 101-1/2p, yesterday, a 16% gain since last Friday. At yesterday's price the company is valued at around £47.5m.
DATED: 23.02.07
FEED: AW
