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An announcement from More Acquisitions PLC ( (GB:PRIS) ) is now available.
Pristine Capital Plc announced that it will not proceed with its proposed acquisition of a regional property portfolio in the UK due to a breach of commercial confidentiality by a potential investor. This investor directly approached the vendor with a higher bid, leading the vendor to withdraw from the deal. As a result, Pristine is considering legal action and reviewing its financial position to address potential abortive fees and ongoing costs. The company’s shares remain suspended, and discussions with shareholders regarding funding for potential legal costs are underway.
More about More Acquisitions PLC
Pristine Capital Plc is a cash shell company operating in the real estate sector, primarily focused on acquiring property portfolios in the United Kingdom. The company is listed on the Main Market of the London Stock Exchange.
Technical Sentiment Signal: Sell
Find detailed analytics on PRIS stock on TipRanks’ Stock Analysis page.