September 25, 2017 / 7:56 AM / a month ago

BRIEF-MBL updates on formal sales process

Sept 25 (Reuters) - Mbl Group Plc

* SPENT YEAR CONDUCTING FORMAL SALES PROCESS AND DEALING WITH ISSUES RELATING TO SHAREHOLDERS AND FORMER MANAGEMENT OF CO AND TRADING BUSINESSES​

* BOARD‘S EFFORTS AT ACHIEVING A SALE TO PREFERRED TRADE BUYERS HAVE BEEN FRUSTRATED, AND BOARD IS NOT IN A POSITION TO ACCEPT ANY OF REMAINING BIDS

* INTENDED THAT PETER PALFRAMAN WILL RESIGN FROM BOARD WITH EFFECT FROM APPOINTMENT OF NEW CEO

* TRADING BUSINESSES REMAIN PROFITABLE AND CASH GENERATIVE Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below