Login/Register

Stanley Gibbons interiors division sale delayed

Company News

Stanley Gibbons interiors division sale delayed

Fri, 14 July 2017
Article viewed 34 times
http://stmedia.digitallook.com/web/img/dl/14114471388_f4b64191b8_z.jpg
bool(true)
Stanley Gibbons interiors division sale delayed
Stanley Gibbons Group Quote more

Price: 8.62

Chg: -0.13

Chg %: -1.43%

Date: 16:50

(ShareCast News) - Stanley Gibbons' sale of its interiors division - including the assets and liabilities of Dreweatts and the intellectual property rights and goodwill of the Mallett and Made by Meta brands - has been delayed, the company announced on Friday.
The AIM-traded firm had said on 9 May that it reached agreement with the buyer, Millicent Holdings, on the sale.

"The board has now been informed that the funding arrangements of Millicent for payment of the initial £2.25m payable on completion of the sale have been delayed as a result of a change in the financial backers of Millicent," Stanley Gibbons said in a statement on Friday.

"The board of Stanley Gibbons is working with Millicent towards completion of the sale prior to 31 July 2017, the contractual long-stop date for completion of the sale.

"A further announcement will be made in due course."

NASDAQ 100 Top Risers

Name Last Chg.% Time
Liberty Interactive Corporation QVC Group 23.19 2.38 22:33
American Airlines Group 45.42 2.34 23:01
Viacom Inc. Class B 27.72 2.14 22:33
CSX Corp. 52.81 1.99 22:44
Henry Schein Inc. 80.39 1.58 23:03

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Adobe Systems Inc. 149.96 -4.24 23:10
Skyworks Solutions Inc. 103.51 -4.10 23:04
Western Digital Corp. 86.37 -3.95 23:03
Microchip Technology Inc. 88.32 -2.92 22:33
Walgreens Boots Alliance, Inc. 78.84 -2.92 23:03