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.
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Shares took a tumble to 0.035p on the announcement, before recovering to 0.045p, still down 0.007p on the day.
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