Merchant House waiting on payment from investors
Financial services group Merchant House has run into a spot of bother with the share placing it announced at the end of February, with one or more unnamed parties yet to stump up the money for the shares they pledge to buy.
Financial services group Merchant House has run into a spot of bother with the share placing it announced at the end of February, with one or more unnamed parties yet to stump up the money for the shares they pledge to buy.
Merchant House said that £150,000 of the £761,500 it is expecting to pocket has not been received by the company. Not surprisngly, the 214.3m ordinary shares issued and allotted to the later payer(s) have not been delivered, and won't be until the company receives its money.
The company is continuing to pursue these monies and a further announcement will be made in due course.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Shares took a tumble to 0.035p on the announcement, before recovering to 0.045p, still down 0.007p on the day.
JH
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
A Budget for recovery and growth - but who will foot the bill?
Rachel Reeves wants to plug the £22 billion black hole that Labour says it inherited from the Conservatives, will today’s Budget do that and who will pay for it?
By Kalpana Fitzpatrick Published
-
Autumn Budget 2024: Pensions and Aim shares to be taxed in IHT crackdown
The chancellor has announced that pension pots will be liable for inheritance tax from 2027, while Aim shares will be hit a year earlier. Critics call the measures a “blow for savers”
By Ruth Emery Published